Western Europe
Article Abstract:
Real growth of gross domestic product for European Union (EU) countries is forecast to increase in 1997 to 2.3% compared with the 1996 level of 1.7%. Investment and the construction industry have yet to recover, and recovery is based on manufacturing and exports. Unemployment has been at record levels in France and Germany, which has affected consumer confidence. Inflation is dropping in the EU, and this is especially marked in countries where inflation has tended to be high such as Spain and Italy. Inflation convergence should help planned European monetary union (Emu), though the success of Emu also depends on economic growth levels.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1997
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Western Europe
Article Abstract:
European monetary union (Emu) looks set to be implemented in Jan 1999, with 11 European Union (EU) nations taking part. The president of the European Central Bank (ECB) will be Wim Duisenberg, and the ECB will set out its monetary policy objectives prior to becoming operational in Jan 1999. Emu involves coordination of monetary policy in the EU prior to this date. European economic recovery means that interest rates may be raised in Germany and drop slightly in Ireland and Italy.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1998
User Contributions:
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