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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ken98 who wrote (13080)8/23/2000 12:22:56 AM
From: pater tenebrarum  Read Replies (2) of 436258
 
it is the other way around...Spain and Ireland need HIGHER rates, not lower rates. those are the countries where inflation is already out of control, hitting almost 6% in Ireland for example, a 15-year high.

it is the core economies that are in need of lower rates - thus far. this is about to change...i agree with that.

anyway, the ECB's dilemma is nothing new...it has to handle a common monetary policy for what is not an ideal common currency area.

we'll see if it works...the Euro is already forcing structural reforms in many countries.
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