Posted on 04/10/2019 8:26:56 AM PDT by Olog-hai
The head of the European Central Bank warned that global friction over trade — such as U.S. threats to impose more tariffs — is holding back the economy as he underlined the bank’s readiness to deploy more stimulus if needed.
Mario Draghi said Wednesday that an improving jobs market and rising wages were helping the economy in the 19 countries that use the euro but uncertainties like trade disputes and Brexit are hurting it.
“Global headwinds continue to weigh on euro area growth,” he told a news conference after the central bank kept its key interest rates and policy promises on hold.
Draghi was speaking hours after U.S. President Donald Trump threatened to pile tariffs on another $11 billion worth of goods from the European Union, ratcheting up tensions as the two sides negotiate trade terms.
“The fact that these threats are being voiced with some frequency is certainly undermining confidence,” Draghi said. […]
The European Commission forecasts eurozone growth of 1.3% for all of 2019, from 1.8% last year. Unemployment is down to 7.8% from a peak of 12.1% in 2013, helping domestic demand for goods and services. …
(Excerpt) Read more at apnews.com ...
Schadenfreude Moment.
So EU drop your tariffs or do you have some unalienable right to practice mercantilism against your protector unopposed? Our troops stationed there want to know.
It’s refreshing to see a government worried about losing their manufacturing sector and about their workers well being. To bad it’s not the USA doing that as policy.
Just the THREAT of tariffs puts the EU in a tizzy. There is a way they can counter this, you know. Take off some of their OWN tariffs, let’s get a little equality and parity here.
Chisel, chisel, chisel, After while, you have carved out a pretty deep hole for yourself.
Golly, “trade tensions” caused by “tariff threats” should harm economies on both sides of the Atlantic equally. Yet we seem to be doing better than just fine as Europe continues to stagger along in a sucking mire. Funny, that.
Waaaaaaaah!
Throw out the pigdog murder-muzzies. Then we’ll talk.
Sure, so long as the state has its hand in the process.
Like you pointed out, dropping their tariffs that they pretend don’t exist would stop this in an instant.
good.
Every trade/immigration policy of the USA since 1980, until Pres. Trump, was designed to idle/undercut our hourly workforce to increase corporate profits. That’s how you end up with a President Sanders.
Infiltrate and gain control of big business.Things like this have been going on well before 1980. The growth of the social market economy in Europe is just as much part of the plan as the USSR’s machinations were. (Include normalization of “relations” with Red China, which was communist goal #7.)
— Communist goal #37
I would argue that a change of .5 % is more or less immeasurable. And, in a healthy economy progress is measured in mere tenths of a percent, there are greater problems than Trump and Brexit.
Which is the greater threat, Donald Trump or the French Yellow Shirts, or Italy?
The banker seeks a scape goat.
We either start with protectionist defensive policies or continue to de industrialize and socialize. It’s the natural progression of the latter.
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