Euro notes

Cracks appearing in the eurozone...

Economic divergence amoung Eurozone countries is causing serious concern to the ECB, which has indicataded that the six-year-old monetary union is not working as effectively as it had hoped. In a speech in June at an ECB conference in Frankfurt, Lucas Papademos, the ECD's vice-president, said that the "significant and persistent divergences in measure of competitiveness between member countries ... [raised ] concerns about their impact on growth." Adjustment

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