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Why Europe should stop whining
Clipped to the Drawing Board by George Tan  
PARIS (Fortune) -- Ever since the dollar began to fall against the euro in 2002, a chorus of government officials, economists and business executives around Europe - from the CEO of Airbus to the Prime Minister of Luxembourg - has complained publicly and in near-apocalyptic terms about the greenback's decline. Their argument has been that the tumbling dollar makes European goods and engineering less competitive on world markets and thus poses a big threat to the European economy overall.

As the greenback's slide has accelerated in the past month, such warnings have grown ever more frantic. French President Nicolas Sarkozy told the United States in a speech to Congress last month that continuing monetary disorder could turn into "an economic war in which we would all be victims." Even Jean-Claude Trichet, the governor of the European Central Bank, chimed in last week, complaining about what he called "brutal" foreign exchange volatility.
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Powered by JoomlaCommentCopyright (C) 2006 Frantisek Hliva. All rights reserved.Homepage: http://cavo.co.nr/
Thursday 22 November, 2007 12:06 AM
 
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