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The ECB (EU) needs to act more quickly than its regular meetings and make rate cuts of greater magnitude. The Euro should head lower and drop to the teens and we could see par with USD if they drop rates again early 2009.
Nov 18 09:05 am
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All Comments by alpha_zeta »Tuesday Market Preview: Down Further? [View article]
However, the ECB/EU has difficult making decisions in a market timely manner. Why?
1. bureaucracy (i used to think)
2. disparate/polarization of economies (some economies weak and need rate cuts, others were stronger but some of these have had their currencies hit hard). Instead of a decision-making criteria of "unamimous" they should try "weighted average" ... countries comprising the greatest percentage of GDP of are EU are the weakest
3. arrogance (Irish hedge fund manager interviewed on TV used this word a few weeks ago). Politically, some countries dis-associated themselves from the USA with such things as removal of support with forces in Iraq/Afghanistan. But, Economically, the ECB/EU leaders seem to have become arrogant that their currency is the world's cat's meow ...
well, ECB get with the program, several of the countries in your region are suffering economically (for multiple reasons) and rate cuts are needed independent of other nations/economies (instead of only with co-ordinated efforts).