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And the french government says it is honorable and they should get on to growth. Weve been having manufacturing pmi data out this morning from the likes of france, germany and italy all disappointing. 4 4 it was forecast at 50. 8 and its come in at 50. 6. So a little less than was expected. 50. 6 is that number. A fourmonth low with the manufacturing number and as far as the french numbers, too. Indeed. And that is contrasting to ireland. Slightly lower than the number did come in at 53. 8 marking 13 months of growth. The german number, as we touched on 50. 2 versus 49. 5. I suppose the interesting thing about this is its no longer that simple call strong call weak periphery. Theres a lot of divergence and it makes it hard to know what the right course of action is. I believe its really simple. Europe is struggling. There is no growth in europe. Its a very easy decision to make i think, snars qe is concerned in europe. Look at disinflation inflation, arguably, some of that is needed. E

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