Business Services Industry
In Europe, Periphery Countries Move Toward Core Economic Growth Rate.
Knight Ridder/Tribune Business News, September, 1998 by The European, London
Knight Ridder/Tribune Business News
Sep. 28--Recent surveys of business and consumer sentiment clearly show that Euroland is heading towards a slowdown in economic growth. However, while the major European countries suffer, those at the periphery that are displaying signs of overheating have little choice but to move towards the core convergence rate of 3.3 per cent outlined last week by Wim Duisenberg, president of the European Central Bank. Italy, Spain, Ireland and Portugal can take some comfort since the general slowdown limits the chance of any further shaving of core rates. Since the convergence process is already lagging, any acceleration could alleviate the general malaise spreading across Euroland. The case for such a move would strengthen with a cut...
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