Eurozone Core Economies Under Pressure
Sober Look | Nov 08, 2012 04:39AM ET
The weakness in the eurozone core nations' economic activity (CNBC : The slowdown in the eurozone is now impacting Germany, European Central Bank President Mario Draghi said on Wednesday, warning that data shows that Europe's biggest economy is no longer shielded from the effects of the eurozone debt crisis.
"Germany has so far been largely insulated from some of the difficulties elsewhere in the euro area. But the latest data suggest that these developments are now starting to affect the German economy," Draghi said.
That news sent the euro sharply lower this morning, reversing earlier gains.
Once again investors are coming to the realization that the ECB can not on its own solve the major economic and structural issues faced by the euro area nations and that the window of stability given to the eurozone politicians could be fleeting.
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