ECB’s Stark on the euro area’s plight
Jürgen Stark, a member of the Executive Board of the European Central Bank, has said that the eurozone has fared worse as a result of the crisis than the US because of the region's reliance on manufacturing.
The manufacturing sector is more important in the euro area than in the United States, and the manufacturing sector has fared particularly badly in the current crisis, he said.
Stark also said that the euro-area economy was more open than that of the United States and therefore could not
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