As if Britain's political parties did not have enough problems keeping any decision on Europe off the agenda until they sort out internal divisions, they are now facing an economic squeeze on the issue from - of all places - Germany.

The rumour that German motor giant Adam Opel AG has intimated it might be forced to move its subsidiary Vauxhall operations from Britain unless it can see its way to joining the single currency could cost Britain up to 12,000 jobs if it were to be followed through.

Coming on top of news from the EU Commission that Britain faces the lowest growth rate in the union next year, it is enough to make the most xenophobic Englishman weep over his tabloid.

Mind you, it would allow IDA Ireland an opportunity to tout for the jobs and put a complementary gloss on its annual job creation figures.