Greek withdrawal from the eurozone bank, the Bank of Greece) warned that "[a]n exit from the euro would lead to a significant decline in the living standards of Greek citizens." According to the announcement, per capita income would fall by 55%, the new national currency would depreciate by 65% vis-à-vis the euro, and the recession would deepen to 22%. Furthermore, unemployment would rise from its current 22% to 34% of the work force, and inflation, which was then at 2%, would soar to 30%. According to the Greek think-tank Foundation for Economic and Industrial Research (IOBE), a new drachma would lose half or more of
Pro-Euro Conservative Party Liberal Democrats". The party disbanded in 2001. The party said it was "based on traditional Conservative values", and they self-defined as "One Nation Conservatives". The main aim of the party was for the United Kingdom to join the euro, also known as "the single currency", for economic reasons. At the time the British pound was strong against the euro, which had dropped in value to be equal to the US dollar, and the then-Governor of the Bank of England Eddie George said that it would be "an act of faith" for Britain to join the Eurozone. The party manifesto, published