It would also artificially increase house prices, according to Roger Bootle, an economist at Capital Economics.

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Roger Bootle, another shortlisted entrant, says it might be better to start with the departure of Germany and other strong countries.

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"It also accentuates the chance that an interest-rate cut will come at the next Bank of England meeting in February, " says Roger Bootle, managing director of the consultancy, Capital Economics.

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