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Essay / Research Paper Abstract
This 5-page paper discusses the economies of France and Germany and why the German economy is in trouble. Also under discussion is the appointment of Jean-Claude Trichet to the position of President of the European Central Bank, and what this won't need for the European economy as a whole. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTgerfra.rtf
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Unformatted sample text from the term paper:
successful transition to the euro, these two countries continue to suffer economically. One problem is that deflation -- which is defined as
a sustained this band of time of falling prices -- has hit Germany (Sims, 2003). In Germany, government and central bank officials are downplaying the risks of deflation, indicating that
those risks wont be as bad as what happened in Japan, which sustained a terrible blow to its economy (Sims, 2003). Still, global
optimists believe that of recovery in the international economy will likely prevent Germany from suffering from too much deflation (Sims, 2003). They also point out that Germanys workers unions will
help keep the wages up, and that real estate prices continue to stay high (Sims, 2003). However, what these optimists have not realized
is that the rigid structures by which German business and its employees operate is one reason why the economy has not grown as much as it could. Economists point
out that this is one reason why the euro has not necessarily been very successful in becoming Germanys currency. Because of German rules and regulations, interest rates have not
been able to be used to help control the economy. Experts furthermore point out that even a mild inflation in Germany would impact
the rest of the world -- if Germanys suffers from deflated, no matter how mild, that means two of the top three economies are in trouble, which would end up
making a global recovery more difficult (Sims, 2003). Furthermore, Germany, which is considered the "motor of Europe," accounts for a third of output among the 12 euro-zone nations (Sims, 2003).
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