The euro area is not immune to the ills that afflict America and Britain


	The euro area is not immune to the ills that afflict America and Britain

JICWyllie

1-3-2008 1:40 PM

238 views

tags:

economy, currencies, i-exchange rates, i-policy, i-risks

Add a Comment

Login to Comment. Not a member yet? Sign up

What Becomes of the Broken-Hearted?

Talbott Speaks out for ACORN

30 reasons to expect Great Depression 2 by...

The Church urges Israel to allow emergency...

The Perils of Cheap Oil

There is no way like the American way (pic)

More clips from JICWyllie

Melting Arctic Ocean Raises Threat of ‘Met...

The Greenhouse Gas That Nobody Knew

Today's Top Clips

visit the Top Clips page

View the Top Clips from January 3, 2008

Embed This Clip In Your Site...

<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/a3a030dd-5d7e-4eac-8712-a0e1f366cf31/D7C37ABB-4988-4050-BEF0-EC091E02B971/" 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.economist.com/finance/displaystory.cfm?story_id=10431089" href="http://www.economist.com/finance/displaystory.cfm?story_id=10431089" style="font-size: 11px;">www.economist.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.economist.com/finance/displaystory.cfm?story_id=10431089">An optimist would argue that the euro zone will prove resilient, because it does not have America's legacy of struggling subprime borrowers, its current-account deficit or its housing bubble.</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.economist.com/finance/displaystory.cfm?story_id=10431089">A closer look prompts a less sanguine assessment. Europe has its own property hotspots. House-price gains in Spain and Ireland have been far greater than in America over the past decade. </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.economist.com/finance/displaystory.cfm?story_id=10431089">Cooling housing markets in France and in Italy are likely to hurt those economies too.</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.economist.com/finance/displaystory.cfm?story_id=10431089">its current account has been broadly balanced, in contrast with America's large and persistent deficits. But that is mostly because Germany's current-account surplus, equivalent to 6% of <SPAN class="scaps">GDP</SPAN> </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.economist.com/finance/displaystory.cfm?story_id=10431089">has acted as a huge counterweight to deficits elsewhere.</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.economist.com/finance/displaystory.cfm?story_id=10431089">Outside Germany, companies are heavily dependent on borrowing to finance their capital spending,</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/D7C37ABB-4988-4050-BEF0-EC091E02B971/blog/" title="blog or email this clip"><img src="http://content7.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>

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Blog; Copyright; Privacy; EULA

Search Options

Related Clips

More clips from JICWyllie

Today's Top Clips