Friday, Jul 20, 2007
But if French manufacturing is beginning to feel the woes of a stronger euro, why isn’t Europe’s other major economy, Germany? Germany’s share of world trade has in fact risen – it’s now the world‘s biggest exporter.
moneyweek: Nicholas Sarkozy: will the French piranha demolish the euro ...
They’re now calling him ‘le piranha’. Fresh from attacking the notion of free competition in the EU, French president Nicholas Sarkozy honed onto a new target last week. The European Central Bank (ECB).
Worried that a stronger euro is damaging the French economy’s competitiveness, he called into question the bank’s independence, and its focus on inflation rather than economic growth.
Thankfully, Europe’s finance ministers promptly told him to shut up.
Posted by chris :-)) @ 11:06 AM (126 views) Add Comment
7 Comments
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1. Scott said...
Those Germans, you just cannot keep them down.
2. japanese uncle said...
Euro and EU effectively represents fascism, forecefully unifying such diverse countries without proper regard to each culture. Latin culture and German culture should/could not mix, each nation/culture is good and valuable on its own. UK should never ever join Euro, though Crash Gordon may be tempted to do so.
3. sold 2 rent 1 said...
I don't see the euro lasting beyond 2012.
It is too late for structural reforms in France - these should have been done years ago.
4. japanese uncle said...
I agree. Look what happened to the Stability and Growth Pact; it's now a waste paper after the major nations such as Germany, France, Italy could not comply with it, and insisted successfully on modifying the terms to fit their individual particular circumstance. Some unification, indeed.
5. Stoatgobbler said...
Hahaha. What a laugh. Let's have a friendly fiver on that then japanese uncle and sold 2 rent.
6. japanese uncle said...
My point is French, Italians and Spaniards and other latin people are inherently incompatible with strictly bureaucratic approach (particularly the latter two). How for instance, can a German businessman can properly function in the countries where being one hour late at an appointment does not constitute any wrongdoing/apology.
First of all introduction of Euro is largely responsible for the Spanish property bubbule and general inflation. Euro is no good except for the big businesses operating on a Pan-European scale, who can reduce exchange risk.
7. sold 2 rent 1 said...
Stoatgobbler,
I could only get 4-1 off Paddy Power on a euro break up by 2017
And 12-1 for Ireland leaving the euro by itself by 2017.
I am not sure you are fully aware of the 75+ year debt bubble that is about to burst and the affects of being trapped in a single currency
How did you get on understanding kondratieff wave theory?