Reuters - Video

EDITION: U.S. | U.K. | IN

MOST POPULAR

Snow slows Europe's fragile economies

Monday, January 21, 2013 - 02:01

Jan.21 - Heavy snow fall across much of Europe is set to cost its already fragile economies billions in lost revenue and could push the UK back into recession. Hayley Platt reports.

▲ Hide Transcript

View Transcript

The start of a new week and UK workers are struggling to get in. Snow is covering much of the country causing costly disruption. SOUNDBITE: Unidentified female commuter, saying (English) "There were no trains at my station since half past seven but finally managed to get in now at 10 o'clock." SOUNDBITE: Unidentified female commuter, saying (English): "Horrible, delays of like a couple of hours and such a mess." One in 10 flights were cancelled at Heathrow - slightly better than the 20 percent on Sunday. And retail was also hit as consumers stayed away from the shops. The daily cost to businesses is estimated to be around £1 billion pounds. And that could push an already fragile British economy into a triple-dip recession. BGC Partner's Michael Ingram. SOUNDBITE: Michael Ingram, strategist, BGC Partners, saying (English): "The economy hasn't got a great deal of momentum behind it and it wouldn't take a lot to tip it over the edge. Certainly the disruption that we're seeing in terms of snow at the moment is going to impact UK GDP numbers for January and also many others countries in Europe." Airlines scrapped 40 per cent of flights from Paris too, along with 300 flights at Frankfurt. (SOUNDBITE) (German) PASSENGER, HELMUT VOELKER, SAYING: "We've been wanting to get to Budapest since yesterday lunchtime. We sat in the plane for two hours but it was cancelled so we've been here ever since." With many countries in Europe struggling to keep their economies afloat - even a short spell of adverse weather can be damaging. SOUNDBITE: Michael Ingram, strategist, BGC Partners, saying (English): "If it's just disruption then a lot of the downturn in economic growth that we're seeing at the moment is going to come back at a later date although I would have to say net net you're probably still down on the trade." Britain's transport nightmares come after a series of dire results from retailers. Several chains have gone into administration. GDP figures this Friday are expected to show negative growth for the last quarter. More wintery weather could freeze any recovery in the next quarter. |

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Snow slows Europe's fragile economies

Monday, January 21, 2013 - 02:01

Editors' Picks »

Business »

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)