Relatively closed economies in the euro zone will not be subject to U.S. economic decline

European Central Bank President Duisenberg this week that a U.S. economic slowdown has not affected the euro-zone economy, at present there is no indication that European economic growth slowed down. Duisenberg at the European Parliament Economic and Monetary Affairs Committee made the above statement. At the meeting, inspiring him to predict that the euro-zone economy will be strong growth in 3 years in a row, the inflation rate this year will prompt the European Central Bank to lower the target rate below the unemployment rate will continue to decline. Last week, Federal Reserve Chairman Alan Greenspan has just announced that, despite the two rate cuts in January, the U.S. economic outlook is still good, just Duisenberg's remarks contrast. Duisenberg acknowledged that the world economic slowdown may affect the euro-zone exports, but he stressed that the European economy is heavily dependent on domestic demand, largely closed, blocking does not. He disclosed that the central bank, according to insiders estimated that over the next 3 years in the euro zone economy will grow 3.4 percent last year, slightly lower level, but will remain "strong." However, Duisenberg's remarks in Germany was the heat. German National Chamber of Commerce Federation, a director of the view that in accordance with the Duisenberg, European Central Bank will keep short-term interest rates in Europe above the potential rate of economic growth, which will greatly inhibit investment. He pointedly commented: As a European, not only will the new economy in the area behind the United States, will also be lost in traditional areas of economic opportunity. Since the mid-year, a marked slowdown in economic growth in Germany. Economists pointed out that since Germany last year, the inflation rate low, making the real interest rate is higher than the average level of the region, so Germany than in other countries within the euro zone increased by the European Central Bank's tight monetary policy