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Reply #20: Dollar drop could lead to "economic war [View All]

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fedsron2us Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-07-07 05:37 PM
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20. Dollar drop could lead to "economic war

This was probably the most significant thing Sarkozy said in he last two days. In reality the French like many other EU countries particular in the south of Europe are under the cosh as the value of the EURO climbs. The sad truth is that Sarkozy has only a limited influence on the value of the European currency since the interest rate policy of the European Central bank under Trichet is dominated by inflation hawks who have the backing of Angela Merkel. As always it is the Germans who ultimately call the economic and political shots in the EU.
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