From: Jeffrey Epstein <jeevacationggmail.com> To: PETER MANDELSON < › Subject: Re: Fw: Business issues Date: Sat, 13 Jun 2009 20:06:42 +0000 what salable assets? On Sat, Jun 13, 2009 at 2:08 PM, PETER MANDELSON < › wrote: Interesting note that's gone to the PM. - - On Sat, 13/6/09, Nick Butler <M > wrote: From: Nick Butler ‹ > Sub'ect: Business issues To: Cc: "Dut Clerk - Desk "Jerem He wood" "Christina Scott" "PETER MANDELSON (E-mail)" , "Shriti Vadera (Personal)" Date: Saturday, 13 June, 2009, 5:33 PM Dear Gordon Business is now less worried by the economic situation than at any time in the last nine months. Only one FTSE 100 company is in any real difficulty - most are pulling through, making efficiency savings and generally cutting costs to match lower levels of demand. The economy is flat and the recession is not over - unemployment is still rising - but we are in better shape than Germany or Japan and in some ways better than the US. The data on inward investment is excellent, as are the revised forecasts on unemployment which now suggest a peak below 3 million. Business support for the Government has been destabilised by the events of the last four weeks but there remains no fundamental divergence of view about economic policy or the Government's management of the banking crisis. Business is probably now marginally anticipating a Tory victory - just on the basis of the Euro results and the polls - but there is no EFTA00750065