Not exact matches
-LRB-...) their bets against the bonds of «
core»
eurozone countries — not just France, but Germany and the Netherlands too — represent a new, deeper level of bearishness on the single currency area's prospects.
Headline inflation in the 19 -
country eurozone was just 0.2 % in the year to end - August, according to Eurostat, while
core inflation (excluding food and energy) was 1 %, well off the ECB's inflation target of just below 2 %.
In terms of the actual economy in the
Eurozone, in aggregate, I think that the
Eurozone is roughly a 1.5 % growth economy, but again that's in aggregate so it masks the big divisions between the
core countries like Germany and the weaker
countries like Greece and Portugal, and Italy as well.
It is evident that
countries in the
core and periphery of the
Eurozone face very difficult decisions.
And it will progressively push
countries in the
core to commit to the fiscal integration that the
Eurozone requires.
As the
Eurozone consolidates, around banking union and cross-border transfers, the Lisbon treaty will be superseded by new,
core -
country agreements.
There's the
core: where the
Eurozone countries are now pulling together more closely, integrating further to shore up the single currency.
In his speech he argues that Britain should choose a middle path between the
core countries who are in the
Eurozone and forging even closer union and the
countries that he describes as being on the periphery - «the accession
countries, EEA
countries, Norway, Switzerland, and so on».