Tuesday, Jul 10, 2007
EU veterans have long feared that is this how the eurozone could start to unravel
TELEGRAPH UK: France is now launching a "dash-for-growth" at the top of the cycle, threatening to push up inflation for the whole eurozone bloc and tempt others to follow suit
Germany has reclaimed her place as the world's biggest exporter. By holding down wages through a relentless squeeze, German has gained 22pc in cost competitiveness against France since the launch of EMU.
France's slipping competitiveness is the reason why he repeats calls for activist measures to force down the value of the euro, a move that would effectively strip the European Central Bank of its independence. This too risks a bitter dispute with Germany.
Posted by chris @ 09:18 AM (172 views) Add Comment
2 Comments
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1. sold 2 rent 1 said...
"EU veterans have long feared that is this how the eurozone could start to unravel"
These are the glory years for the world economy.
Europe will surely break up when the world economy hits the buffers.
2. mrmickey said...
I agree Sold 2 the EU is doomed to rip itself appart. Europe is reliant on military support from the US, once that dry's up watch Russia start to increase it's influence over Europe by playing one state off against the other over energy supplies which it has already started.