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industry buzz by holly martin | from Vienna | contact:

Euro adds to UK Film Woes
The Euro is likely to add to the UK's beleaguered production sector's problems as more Eurozone countries seek co-productions between themselves. Juergen Schau, head of Columbia Pictures' German subsidiary claims the Euro is the best thing to happen to Europe's film industry that can only make Europe more productive.
Already boasting one of the lowest international co-production rates in Europe, the UK production sector has suffered from a strong pound and well as the threat of actor strikes - with production levels in 2001 down on 2000 (see story). Cross-borader coproductions have traditionally been held back by language, currency and cultural differences - at least one of this areas has now been stop-gapped. "We can now work with one currency across Europe and don't have to constantly worry about exchange rates - we have one European market where we can all work." Great for the Eurozone countries, but for overseas producers, another disincentive against shooting in the UK.

Some analysts also suggest that film revenues - traditionally denominated in dollars, will soon be listed in Euros - at list for European countries.

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