DM1880.2 bn does not equal = $1106bn but $1044 bn, as the bottom line says. If anyone has a spreadsheet with the exact currency spot rates, I should be interested to see a more refined calculation. But the essential point remains: after 17 years of Thatcherite 'restructuring', UK pc incomes are level with Germany's. The lesson is not that Thatcherism works, but that German social-market welfareism doesn't. That applies to France too. Mark
