> On the other hand, the euro hit another low. Duisenberg's apparent goal
> of turning Europe into an export-oriented, low-wage labor reservoir for
> US stock traders and brand designers is well on track.
Nicht so, Kamerad. Real wages continue to increase in the EU, while Euroland is running big current account surpluses as well as export surpluses. Basically, they're pursuing a high-wage, low-workweek strategy. Duisenberg would like to change this, but the general Left surge in the EU since Maastricht monetarism self-destructed in 1995-97 has kept the ECB in line (inflation of 2% plus growth of 3%, but short rates are only 3.5%, suggesting mongo fiscal leniency).
-- Dennis