Germany stalls

Article Abstract:

Germany faces low gross domestic product (GDP) growth while the European euro has dropped in value in relation to the US dollar. This drop in value could be seen as healthy since it reflects slower European growth and especially slower German growth. US interest rates may rise, while European rates look set to stay low. Cyclical factors have affected European economies, but there are also structural problems in Europe. Germany has also been hit by a drop in exports to Russia, and Germany has had to maintain tight fiscal and monetary policies due to constraints imposed by monetary union.

Gross Domestic Product, Economic aspects, Germany, Cover Story

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Year zero for the euro

Article Abstract:

European monetary union has been launched in 1999, though the new euro currency will not be available in the form of notes and coins until 2002. There has been a stimulus to capital markets from the launch of the euro, and low interest rates have encouraged companies to borrow. Acquisitions and mergers have also boosted borrowing levels. Job losses can arise from mergers, though they are also seen as bringing greater efficiency in industry. Political union could result from monetary union, but this is not inevitable.

Monetary unions

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