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Europe Daily Bulletin No. 8634

30 January 2004
Contents Publication in full By article 16 / 38
GENERAL NEWS / (eu) eu/economy
Strong euro weakening companies' competitivity

Brussels, 29/01/2004 (Agence Europe) - A report published Thursday by services of Commissioner Pedro Solbes states that the rising euro on foreign exchange markets weakened the competitivity of euro-zone producers by 2% in the fourth quarter of 2003. Competitivity dropped by around 10% compared with the same period the previous year, said the Commission. The report confirms that that nominal effective euro interest rate appreciated by 4% in the fourth quarter against a basket of currencies...

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