Faced with an extremely high euro and high wage costs, the companies stepped up their restructuring. When the euro declined last year, they suddenly found they could take on the world quite easily.
More Quotes from Holger Schmieding:
This is the worst thing we've had from the German economy for some time.Holger Schmieding
Whatever the color of Germany's new government will ultimately be, the pace of structural reforms is likely to be slow.
Holger Schmieding
The evidence on U. K. consumption remains contradictory. Some data such as weak consumer confidence and the reluctance to use credit cards point to further weakness ahead. However, the modest rebound in the real estate market and anecdotal evidence of satisfactory Christmas indicate a modest strengthening in spending.
Holger Schmieding
Growth looks more likely to stay below than to rise above 2.5 in the foreseeable future. A further decline in inflation, coupled with mediocre growth, will likely tilt the balance towards further rate cuts later this year.
Holger Schmieding
The bank hiked rates aggressively in late 2003 and early 2004 to cool down an economic boom fueled by an explosive rise in house prices, and clearly attained that goal.
Holger Schmieding
Readers Who Like This Quotation Also Like:
Based on Topics: World QuotesFor to tempt and to be tempted are things very nearly allied... whenever feeling has anything to do in the matter, no sooner is it excited than we have already gone vastly farther than we are aware of.
Catherine the Great
Don't tell your kids you had an easy birth or they won't respect you. For years I used to wake up my daughter and say, 'Melissa you ripped me to shreds. Now go back to sleep.'.
Joan Rivers
Pick up a camera. Shoot something. No matter how small, no matter how cheesy, no matter whether your friends and your sister star in it. Put your name on it as director. Now you're a director. Everything after that you're just negotiating your budget and your fee.
James Cameron