The NYT notes the recent decline in the euro and points out some of the negative economic effects (e.g. higher oil prices), then tells readers: "more important, there is a queasy feeling that the decline of the euro makes an uncomfortable statement about Europe’s chronic tendency to underperform the United States in economic growth." Hmmm, "there is a queasy feeling." Where does one find this queasy feeling? The NYT quotes the chief executive of a German health care company who seems to feel somewhat queasy, but that is the only evidence presented in an article with the headline: "ailing Euro Seen as a Signal of Deeper Woes on Continent." They may have overstated their case somewhat.
--Dean Baker
