Into the fall. The two Companies Strike a deal on their stock. Thanks to the bottom of the stoxx 600. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Good morning. Welcome to the show. Were just going to update you on some the breaking eurozone pmi numbers. The eurozone august final services pmi came in at 53. 1 versus 54. 2 in july. And that follows some of the mixed data weve had early from the individual countries, as we said. Joining us now is david bloom, head of Global Foreign Exchange at hsbc. David, is it the difference between the flash estimate and the current estimate, not july . And thats much weaker. So we already got the first shout at this month. Much weaker germany and much weaker euro tried to trade early this morning. Failed. The question is will they keep the momentum going in this weakening euro. Do you think its time now for draghi to desert his beliefs and start printing euros altogether . Its coming. The Printing Pre
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a gas station. but they ve done well economically the last few years. their gdp rate of growth has been almost exactly the same as ours. it is not terribly high. we ve been through a pandemic, just under 2%. but they are growing. more interestingly, he has dramatically brought down their public debt level. they had debt over 100%. they went bankrupt in the late 1990s. he has been working that down. today, their debt to gdp level is 17%. who would have guessed, by the way, that boris yeltzin wouldn t be a good manager of money? putin has done all right. yeah, but not yeltzin. i m not letting him guard the bank. they have the fiscal space to withstand sanctions, pay what they need to pay, and they re not going bankrupt soon. the other thing he s done with respect to foreign exchange is he s built up their foreign exchange reserves.