The economic situation in Europe worsens: France's performance is catastrophic and Greece's whist improvin,g remains in negative territory. Europe has not addressed the roots of its failure and will continue to be under market's pressure.

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Stop Press: Markit Eurozone Manufacturing PMI – It’s really bad
I usually do not post this kind of economic data, since there are so many published every
week. I am doing so since the numbers are striking, France in particular is a real disaster.
As I indicated many time, forget about Portugal, Spain (well not really, do not forget
Spain!) and Italy, France is the sick man.
Greece: 3 month high but still in contraction territory @ 41.3
France: 33 month low (yes, you read it right!) @ 46.7 (I heard on the French radio that the
2 French auto-manufacturers – Renault and Peugeot – had sales 30% down in February;
the French auto industry, Peugeot in particular, is entering the danger zone for its
survival).
The roots of the problem have not been addressed, and politicians are still in denial
territory: the construction of Europe for the past 20 years is a failure due to a dogmatic
approach.
Source:
Markit: Markit Eurozone Manufacturing PMI® – final data
http://www.markiteconomics.com/MarkitFiles/Pages/ViewPressRelease.aspx?ID=9330
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