Staatsschuldquote en stabiliteitspact

[Henk Elegeert]

REPLY TO: D66 at nic.surfnet.nl

Henk Vreekamp wrote:

> REPLY TO: D66 at nic.surfnet.nl

Henk,

> Er is nog een "partij" die baat heeft bij het overschrijden van de 3%
> norm  (inclusief iets oplopende inflatie) die nu stijf de kaken op
> elkaar houdt. Juist, het in dollars rekenende bedrijfsleven. De euro is
> voor haar veel te sterk, de waarde van de Amerikaanse inkomsten daalt
> alsmaar. Een monetaire correctie is haar dan welkom.
>
> Leuk, de ene monetair (bedrijven met grote Amerikaanse belangen)
> tegenover de andere monetair (de conservatieve neoliberaal Zalm)...

inderdaad...

http://www.euobserver.com/index.phtml

http://www.euobserver.com/index.phtml?print=true&sid=9&aid=13732

"
Euro's record-breaking rise against dollar could harm recovery

The euro's rise against the dollar is not necessarily good
news for the euro zone economy.

The euro hit record highs against the dollar in trading on
Friday, breaching the psychologically important barrier of
$1.20, before easing slightly ahead of the market’s close.

Trading was light because US markets were closed for
Thanksgiving, but the euro also gained against the Yen
showing that currency traders have by-and-large shrugged off
last week's "death" of the euro zone's Stability Pact.

But many analysts were quick to point out that the euro's
rise against the dollar was more to do with the weakness of
the US currency, rather than any perceived euro strength.

The European Commission may worry about the budget deficits
of France and Germany, which are above the three percent of
GDP limit permitted by the rules underpinning the euro.

However, currency traders point to the fact that the US
budget deficit is expected to be over five percent next year.

The greenback has also been hit by geopolitical concerns and
fears of renewed terrorist attacks against American interests.

A worrying trend ... for exporters
And the new-found strength of the euro is not all good news
for the euro zone.

When the euro is strong against the dollar, it makes euro
zone exports relatively more expensive in the US, so export
sales tend to decline.

And the nascent euro zone economy has thus far been built
around strong export growth, which could be stiffled by the
rising value of the zone's currency.

Germany - the largest economy in the euro zone - is
especially dependent on exports for economic growth and if
the German recovery stumbles, the rest of the euro zone may
fall.

"In dollar terms the euro is up 15 per cent on the year ...
That will weigh on the recovery next year", said Rainer
Guntermann of Dresdner Kleinwort Wasserstein, quoted by the FT.

Written by Richard Carter
"

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