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To: Haim R. Branisteanu who wrote (94662)	5/31/2008 7:38:44 AM
From: Haim R. Branisteanu	Respond to of 110194

It is so unfortunate for the EU that their central bankers are a bunch of certifies arrogant and clueless people. CB should fight inflation resulting from an overheating economy and pentup local demand, but in this case the ECB is punishing EU corporation and individuals because the price of oil and other commodities are rising due to global demand mostly from BRIC countries and Africa. The question is how will higher interest rates in the EU dampen the demand from India, China Brazil and Africa is beyond me. Some times narrow minded stupidity knows no bounds Faster inflation is already eroding confidence among households. European consumer confidence unexpectedly dropped to the lowest in almost three years in May, the European Commission in Brussels said yesterday. In Germany, Europe's largest economy, consumers also grew more pessimistic, according to a survey released this week by GfK AG.