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Worries record economic growth achieved by Germany during the second quarter of the year, financial officials in the euro zone, particularly in the European Central Bank. While grown-largest economy in the region, its fastest pace since German reunification in 1990, the countries of the southern region still struggling to achieve recovery from the sovereign debt crisis. We have deepened the recession in Greece and in Spain's economy grew less than the expectations of experts, investors returned to the follow-up deficits that affect the budgets of these countries.
Experts say that the European Central Bank, though the scope of its powers limited to Germany, it will raise interest rates soon, but such a step would hurt the economies of countries
Southern euro zone, particularly Greece, Spain and Italy. And trying to head of the bank, Jean-Claude Your Legacy Club to take steps to prevent the German economy from excessive growth while keeping the sovereign debt of the euro area under control. In a sign of renewed investor doubts over the ability of indebted countries in the region to meet their debts, the extra yield demanded by them compared to a yield of standard German bonds its highest level since May 7, was (May) last year.
And European stock prices fell after a brief rise followed the release of the German growth figures, and increased the yield on Greek bonds that mature after 10 years 10 basis points to 807 points. In Ireland, as investors worried about the cost overrun rescue troubled banks expectations, the yield rose five basis points to 293 points, the highest level since 29 June last.
The euro zone economy grew by one percent in the second quarter of the year, but Germany's economy, which is equal to a quarter of the region's economy, the form of two-thirds of this growth as it grew by 2.2 percent. In Spain, where the government is struggling to implement austerity measures, the most in three decades, the economy has not grown more than 0.2 percent, compared to the expectation of experts ratio equal to 0.3 percent. Greece's economy shrinking by 1.5 percent. The differences dilemma in front of Your Legacy Club as it tries to determine the appropriate time to stop the extraordinary measures and raise interest rates. Any hasty step in this framework capable of choking off credit and unsettling investors, while the slowdown could unleash inflation.
But time is still playing for the benefit of Trichet. Prices in the euro zone did not rise by more than 1.7 percent, making him confirms that inflation remains under control, as a member of the Board of Governors of the European Central Bank and the Governor of the Central Bank of Cyprus stressed that fluctuations in energy prices is not concerned him. However, the Belgian counterpart to, Guy Quaden, called on the European Central Bank to be aware that energy prices have jumped 11 percent since the height of the sovereign debt crisis in the euro zone in May. And across the German Axel Weber displeasure from some ECB measures.
Experts say that Trichet has enough time to take the appropriate decision at the appropriate time, Vdgot inflation is still too weak to pose a sufficient threat, while economic growth this year is still lower than the actual potential of the euro zone. It seems growth is strong in the region as a whole, while core inflation remained at one percent. And baptizing the European Central Bank, which kept the two-week main rate of interest before at a record low level equal to one per cent, to reduce its purchases of sovereign bonds in the euro, which started in May area, and will examine his officials next month how to cut unlimited loans bank to banks in the region. Your Legacy Club Your Legacy Club