The Euro may not last
Quote:
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Despite core inflation in the euro zone of only 2.4% and a slowing global economy, the Germans insist that the European Central Bank maintain a tight monetary policy. In direct opposition to Germany, the Latin bloc, joined by Ireland, wants the ECB to lower interest rates.
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http://www.forbes.com/forbes/2008/0421/034_print.html
So European countries are now chaffing against the loss of monetary control. Latin countries are caught up in a real estate crisis (similar to the US) and want to decrease interest rates (same tactic the US Fed is using) but cannot. The Germanic countries are worried about inflation and don't want to lower interest rates for fear that it may trigger inflation.
It is an interesting situation.
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