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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (21429)1/12/2002 9:58:51 PM
From: KyrosL  Read Replies (2) of 99280
 
Zeev, in fact peripheral EU economies like Ireland, Greece, Portugal are doing much better under the Euro than on their own. That's because interest rates under their former currencies were considerably higher than under the Euro to account for (weak) currency risk. The fastest growing economies right now by far within the EU zone are Ireland and Greece. One of the reasons is that, being poorer, they get a bigger portion of the tax pie than they are contributing -- similar to poor states in the US.

Again, I think you are underestimating the Euro. Europeans may be less dynamic than Americans but on the average they are better educated, work just as hard (though not as long), and save a MUCH bigger portion of their incomes.
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