European News

[Spartan]

EU Officials: European Economy Thriving
Thursday May 4, 7:34 pm ET
By Aoife White, AP Business Writer
EU Officials: European Economic Recovery Thriving Despite Oil Price Hikes

BRUSSELS, Belgium (AP) -- The European economy is "close to or slightly above its potential growth level" despite soaring oil prices, Luxembourg Prime Minister Jean-Claude Juncker said Thursday after leading talks between the euro zone's 12 finance ministers.


"We see that the European economy is coping very well with the oil price hike," he told reporters.

EU Economic and Monetary Affairs Commissioner Joaquin Almunia -- who supervises the budgets of euro nations -- said the economy's recovery has managed to calm the effect of rising energy prices.

He said he will give more details when the European Commission publishes its spring economic forecast on Monday.

http://biz.yahoo.com/ap/060504/eu_finance_ministers.html?.v=3

 

[roguewave]

EU Officials: European Economy Thriving
Thursday May 4, 7:34 pm ET
By Aoife White, AP Business Writer
EU Officials: European Economic Recovery Thriving Despite Oil Price Hikes

BRUSSELS, Belgium (AP) -- The European economy is "close to or slightly above its potential growth level" despite soaring oil prices, Luxembourg Prime Minister Jean-Claude Juncker said Thursday after leading talks between the euro zone's 12 finance ministers.


"We see that the European economy is coping very well with the oil price hike," he told reporters.

EU Economic and Monetary Affairs Commissioner Joaquin Almunia -- who supervises the budgets of euro nations -- said the economy's recovery has managed to calm the effect of rising energy prices.

He said he will give more details when the European Commission publishes its spring economic forecast on Monday.

http://biz.yahoo.com/ap/060504/eu_finance_ministers.html?.v=3

Spartan, the reason for this is that the Euro is strengthening against the dollar in a fairly significant way as of late. This will lower Europe's(or any country whose currency is appreciating) energy bill. Looks like the I Fund will do well today. Have a great day.

 

[Gilligan]

German Investor Confidence Unexpectedly Dropped (Update2)

By Gabi Thesing

Oct. 17 (Bloomberg) -- German investor confidence unexpectedly fell to the lowest in 13 years in October as the prospect of higher taxes and interest rate increases dragged down expectations for Europe's largest economy next year.
http://bloomberg.com/apps/news?pid=20601087&sid=antSr3nCSUtc&refer=home