The economic divide between Europe's largest economies widened in February, as a closely-watched survey showed manufacturing output in France contracted at a faster rate than Greece, despite the weakening euro. Output at French factories fell for a ninth consecutive month in February, as new orders dried up and overseas demand fell. This led to a further fall in employment, Markit said, as it described general demand in France as "lacklustre". By contrast, a stronger rise in new business helped output at German manufacturers expand for the 22nd consecutive month in February. Markit described the latest rise as "broad-based", but said growth was "weak by historical standards"... France will once again miss an important target which all Euro Zone countries agreed to adhere to upon joining the Single Currency. It is 3%, but not completely sure if that refers to Balance of Trade, Inflation or so. This month, it will be discussed in Brussels once the figures for 2014 are finalised. France is not doing very well right now and they won't enjoy Germany telling them how to get their house in order. However, I reckon they will escape being punished/penalised - again. ...
Slowly, all the lies of the "recovery", all the skeletons in the closet, and all the bodies swept under the rug are emerging. Austrian ORF reported that there have been "spectacular developments" in the case of the Hypo Alpe Adria bad bank, also known as the Heta Asset Resolution, where an outside audit of Heta's balance sheet exposed a capital hole of up to 7.6 billion euros ($8.51 billion) which the government was not prepared to fill, the Austrian Financial Market Authority said.
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