At the exchange rate euro earn only German

The exchange rate euro made Germany a little bit richer

In brief: The sharp devaluation of the euro has become a tragedy for many European countries, except Germany.

The depreciation of the euro contributes to revive the economic situation in Germany. Most benefit export industries, experts say. The economic revival in Germany contributes to weakness of the euro. Said on Saturday, May 22, in an interview Rheinpfalz am Sonntag executive director of the Federal Association of Chambers of Commerce in Germany (DIHK) Martin Wansleben.

According to him, the weakness of European currencies would provide additional jobs and earnings by German firms, it ensures the preservation of at least 80,000 jobs. The positive trend was due primarily to export growth, the expert explained. A weak euro has lowered the cost of German products abroad, the demand for it has grown. In particular, increased sales of automobiles, electrical and chemical industries. But there are also negative points. In Germany, increased prices for oil and other raw materials. In addition, the domestic market decreased customer demand, said Wansleben. Many companies recognize that after the depreciation of the euro things are going better. “Export operations are developing well, the growth of the dollar, we have not suffered”, – said the representative of the group Volkswagen. In turn, the representative of the aircraft group EADS said that the conservation in the long term weakness of the euro “would be good news.” Positively assessed the current situation the head of the board of Bosch und Siemens Hausgeräte Kurt-Ludwig Gutberlet. According to him, the development of the foreign exchange market, a favorable impact on sales, since the vast majority of the enterprises of concern are in the eurozone. At the same time, employers have expressed concern about the plans for the governments of some EU countries to raise taxes. This will affect the businesses of many industries, experts say.

Anrey Torbinski
2010-05-23 00:27, Economics.

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