The foot-and-mouth outbreak could cost the EU billions of euros as countries worldwide ban imports of EU livestock and food products, and the disease spreads to the Middle East and Latin America.
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Foot-and-mouth outbreak could cost the EU billions
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European Commission farm affairs unit head Mr Gerry Kiely said a US-Canadian ban alone could cost the EU $1.5 billion.
France, which reported its first foot-and-mouth case this week, will be one of the worst affected. Its food exports last year were worth 37 billion euros, French statistics institute INSEE said.
Economists in London said the livestock virus could even weaken the value of the euro if rising meat prices prevent the European Central Bank from cutting interest rates.
The EC considers the import bans on EU farm products exaggerated since only one confirmed case has so far been reported on the Continent.
Britain has 238 outbreaks, after a record 26 new cases yesterday and seven more today. Government ministers were meeting in London to outline new steps to halt its spread.
Countries that have already put up the shutters to try to keep out the disease include Australia, China, Hong Kong, Japan, New Zealand, Singapore and South Korea.
Canada and the United States have introduced embargos as have most European countries who are not members of the European Union. Nigeria and Morocco are among African nations which have imposed bans.
AFP