re: euro-zone pmi below 50 Under the Jobs for America Act, there is more money to be repatriated back to the USA from Europe than what there is from Australia.
Also, last month, DoD's Rumsfeld announced the planned closure of a number of military bases, including a significant scaling down of the permanent presence in Germany.
Also, Airbus has been delayed in delivering a number of new planes to customers in Australia (Qantas), Singapore, Thailand and Japan. Those delays will now likely attract performance penalties, etc.
Going forward, that's not good for the EURO-zone.
Anti-Brussels sentiment, IMHO is now simmering (not whimpering).
consumer confidence higher, page-12
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