Euro Set for Dollar-Like Swoon as Wages Brake Growth


	Euro Set for Dollar-Like Swoon as Wages Brake Growth

JICWyllie

1-21-2008 1:21 PM

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tags:

economy, currencies, i-exchange rate, i-depreciation, i-policy

1 Comment |

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1-21-2008 2:19 PM

eemorningwood

The big fall will be when China starts choking on their production capacity .

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e9a25273-a97d-461d-ae01-a14a9a0a35e2/29165DFA-E8AA-4AC9-8AA8-B848771650FC/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bloomberg.com/apps/news?pid=20601213&sid=ahIPTuco2xC0&refer=home" href="http://www.bloomberg.com/apps/news?pid=20601213&sid=ahIPTuco2xC0&refer=home" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601213&sid=ahIPTuco2xC0&refer=home"><P>It's only a matter of time before
the euro starts to imitate the dollar, thanks to train engineers
and ticket-takers.    
        </p> <P> Germany's GDL union, representing 30,000 rail workers, won
a pay raise of 11 percent last week, ignoring pleas by the
European Central Bank to keep increases to a minimum. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601213&sid=ahIPTuco2xC0&refer=home">As many as
half of the 150 million employees in the euro-zone may use the
contracts as a benchmark in wage talks this year, </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601213&sid=ahIPTuco2xC0&refer=home"> The newfound spending power may force ECB President Jean-
Claude Trichet to keep interest rates at a six-year high longer
than he would like </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601213&sid=ahIPTuco2xC0&refer=home">The longer they're
on hold, the bigger the risk to economic growth and the euro's
20 percent rally over the past two years.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601213&sid=ahIPTuco2xC0&refer=home">The currency will decline 3.2 percent to $1.40 per dollar
this year and another 7 percent to $1.30 in 2009, according to
the median of 43 forecasts compiled by Bloomberg.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/29165DFA-E8AA-4AC9-8AA8-B848771650FC/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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