For the complete report in Chron.com click on this link
EU Economy Chief: "Europe Smart on Oil" - by AOIFE WHITE
HELSINKI, Finland — Europe's smarter reaction to record high oil prices has allowed it to keep economic growth accelerating and inflation contained, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said Friday. It is not chance that Europe is enjoying its fastest pace of growth in six years, despite oil costs surging 80 percent above levels at the start of 2005, Almunia said.
"When you look at the economic recovery that is taking place against this backdrop of high increases in oil prices, this isn't just an accident, this isn't good luck. This is due to the way we reacted to the shock: better coordination, better thought out and more efficient than in the past," Almunia said.
No comments:
Post a Comment