July 2008 





A recent economic data showed that the level of inflation in the euro area rose to record levels during the month of November last, in 13 states adopt the single European currency, reaching the level of three per cent, which is the highest rate recorded since put the euro in 2002.

These results and will press the ECB to raise interest on loans to stop the mad rise in prices, at a time when the bank seeks the Federal Reserve to reduce interest rate on the dollar to calm the markets troubled by the secondary mortgage crisis.

The inflation had recorded 2.6 per cent during the month of October last in the euro area, surpassing the 2 per cent set by the ECB in the past.

The agency said the European official statistics, Eurostat, the growth rate during the third quarter of this year has increased at a rate of 2.7 per cent compared to same period last year, after it witnessed the second quarter of the year recession marked.

In the same context, the European Commission said that the measure of consumer confidence dropped significantly in the EU of 27, with increasing concern about the future of European exports whose prices have increased strongly due to the drop in the dollar exchange rate, as quoted by the Associated Press.

This has helped the marked increase in consumer spending hours in the Europeans even absorb the negative consequences of the high value of the euro, but the abuse of EU countries toward the issue has been uneven and clear.