Europe suffer U.S. washing dishes

7:24 PM dishes, Europe, suffer, washing No Comments

France and Germany offered new proposals to resolve a widening debt crisis Tuesday, but the announcement did little, to restore confidence and reverse the widening impact on U.S. consumers, investors and policy makers.

French President Nicolas Sarkozy and German Chancellor Angela Merkel was formed from the last round of talks on all 17 States which use the euro, their constitutions and balanced budgets needed make a "true European economic government." rewrite

Sarkozy and Merkel presented a meeting in Paris, fears of a renewed global financial fresh evidence of economic slowdown in Europe its proposals after added.

"This apparently no game-changer or a show-stopper, be," said Mohamed El-Erian, co-chief investment officer of PIMCO, a huge pension fund. "I am how much support they receive also not safe."

To agree to the European Heads of State and Government, on a uniform plan, entrepreneurs and investors are still uncertainty about the viability of the euro, one of the most important currencies in the world. U.S. bankers worrying about potential default one or more of their European opponents. Investors have poured dumped stocks and money in gold, until they see fight running clearer signs of a solution of the eurozone to restructure the overwhelming debts of weaker members.

"There are around to all kinds of challenges are the national debt, and that has companies hesitate, made" President Barack Obama said a town hall meeting on the Seed Savers Exchange in Decorah (Iowa), Monday. "Some of the effects of Europe have lapped on our shores."

Raw life Inc. to do: I bought a new car. It was not the best experience. Here, a smoother ride on the traders are 10 tips that hopefully give. ConsumerMan: Solution for textbook inflation? Just rent 'em Chevy Volt can be running the juice from the new VW 'Bug' looking for American love life Inc.: who will not pay taxes this year

European debt standstill is also threatening the global economy slow down further. Europe's gross domestic product grew by only 0.2 per cent in the last quarter, down by 0.8 per cent in the first quarter, according to a report released Tuesday.

Germany and France, the two largest economies of the continent, expand hardly at all in the second quarter.

Europeans are already part of Germany's refusal to finance a bailout of weaker countries at loggerheads. Now with the Germany GDP barely growing aid to weaker countries politically could be an even tougher sell.

"While German politicians are currently their brains to the break up pre-and disadvantages of common euro-bonds, the luxury that an economy that is less sharp with"Miraculous"speed", said Carsten Brzeski, a senior economist at ING in Brussels.

Germany's mass picture newspaper warned German Chancellor Angela Merkel not Tuesday on the issue of euro-denominated bonds to transfer.

"Euros ultimately paymaster of Europe would Germany," said the newspaper in an editorial. "The Government must stick to its not on euros." "All debts sinners must clear a for always clarify."

The fear of a global economic slowdown at home reduced confidence of consumers in the United States, still less growth.

Debt standstill and sluggish European economy have sent stock exchange investors looking after cover, whipsawing investors in the last two weeks. Fears that spreading the debt crisis of the continent core investors asked last week, shares in French banks, dump exposed to Italian debt. Rumors have denied that France by rating agencies-, first class triple a credit rating at risk are konnte--.

"The markets are exhausted by the debt crisis of the euro," said Nick Beecroft, senior market Advisor with Saxo Bank, CNBC.

U.S. stocks fell by more than 1 percent and the proposals, the euro slipped not worried about a debt crisis that fear spread global investors to facilitate from weaker countries at the edges of the eurozone to larger Eocnmnies like Italy and France.

The most important answer to the overlap of European debt has a number of budget cuts - so far accept the deeper cuts to come. Those cuts - along with sagging confidence of European consumers - have a great European growth tribute.

"While Greece, Ireland, Portugal, Spain and Italy have the strongest measures to improve their public finances, more difficult, including bite France, other countries also, high voltage, the ball (budget) have come" said economist Raj Badiani in a note to clients Tuesday insight global.

These budget cuts are a preamble for the upcoming reduction in the deficit in the United States, where legislators are just beginning to identify where the budget axe will fall. Last-minute deal between Congress and the White House postponed decisions on some $1.5 trillion in the cut end of the year.

But the European Heads of State and Government, including Merkel and French President Nicolas Sarkozy, are under pressure to financial markets they show agree on more support to the embattled single currency - do, or just the eurozone to unravel.

The root of the current European crisis is the lack of a central tax and spending policies. As there is no central Government or individual European Treasury, Member States have set their own budgets and has their own bonds to compensate for any deficit.

Many experts believe the only way to ensure that affordable financing for the bloc would be financially distressed countries, jointly issue of euro-bonds. However, would be thrown so borrowing costs for countries with lower debt burdens such as Germany.