DEBORAH MARCHINI, CNN ANCHOR: Richard Lambert is editor of the "Financial Times." And besides the sharp market selloff that we are following today, we're also following another story, which is an American ban on imports of animals, livestock, and animal products from Europe. Richard, what's the fallout from this?</s>RICHARD LAMBERT, EDITOR, "FINANCIAL TIMES": Well, the fallout is modest in economic terms, because you have to understand that, across Europe, agriculture is no more than one to three percent of GNP for most countries. It is the story that's dominating the news across Europe now because, here in the U.K., there is a serious problem -- 200,000 animals slaughtered in the last three weeks. The first case -- of foot-and-mouth -- was seen in France yesterday, and agricultural ministries across Europe are now closing down animal movements. The U.S. ban won't have a huge impact, in economic terms, except on specific sectors, like in Denmark, on the bacon industry. But there is a sort of political fall out now. Everybody's expecting a general election to be called in the U.K. here, for May 3. There are questions about whether Mr. Blair will now go ahead and call an election at a time when movements across the country is very limited. I'm sure he will call an election, unless things get very, very much worse. But it's a big political, cultural, and social story, more in a sense now than an economic story, although the problem is beginning to wash over into tourism and horse racing and other associated industries. So it's something that everybody is very preoccupied by here right now.</s>MARCHINI: Clearly affecting daily life. Richard Lambert of the "FT," thank you.
'Financial Times': Foot-and-Mouth Disease's Economic Effects on Europe Minimal