God Save the Queen (and Europe)

With celebrations across the land for the Queen's Diamond Jubilee ordinary subjects are enjoying their four-day weekend, street parties, fairs and a 1000 boat trip down the Thames. But economists are raining on the Queen's parades, derbies and big Balcony wave.
While the sale of bunting, teacakes, Royal gnomes and everything British are reaching record levels in the run up to the festivities, economists are saying this could prolong the European troubles. While the boost in consumer goods will help a little, the added bank holidays could reduce gross domestic product by .5% this quarter. Last year's Royal Wedding gave the economy a similar dip.This comes at the same time the Interactive Advertising Bureau Europe announced the findings of its Mediascope Europe market research study which found nearly 430 million Europeans use the internet, spending an average of 14.8 hours per week. Significantly for merchants, the study of more than 50,000 people found 96% use the internet to research purchases online while 87% make online purchases.

So perhaps Brits will stay home during the four day weekend and shop online keeping the economy from going through a triple dip.

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