“the economy of the region that shares the euro currency grows at a healthy pace” ?????
Lets look at 2006 unemployment figures for
France: 9.7%
Italy: 6.9%
Germany: 10.3%
Britain (non-euro): 5.5%
US: 4.6%
And the Euros want to RAISE interest rates? First quarter 2007 is looking a little better, but all results are not in yet. My sense is this is the Euros defending their currency, and it doesn’t bode well for their domestic economies.
ftp://ftp.bls.gov/pub/special.r...abor/flsjec.txt
Doesn’t make any sense does it?