Friday, July 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.
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.