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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (77786)	4/16/2008 1:19:15 PM
From: Haim R. Branisteanu	Respond to of 116555

The mandate of the ECB is different of that of the FED. By keeping interest relative high with a high exchange rate the ECB makes it worse for Spain, Portugal, Italy, Greece, Ireland, Romania, Bulgaria, Hungary, Slovakia, Baltic States and even UK etc. etc. At present the ECB waits for inflation to come down but with strong unions who demand pay hikes above inflation the ECB will drive the EU into recession. The Benelux France and Germany can not pull the rest of the EU from their RE slump Population growth rate in the EU is below that of the US