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Article: Europe's economies unfazed by surging oil prices
- Article from:
- International Herald Tribune
- Article date:
- August 12, 2005
- Author:
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Carter Dougherty
International Herald Tribune
08-12-2005
Oil prices know no limits these days, but the ever-higher prices for crude have not dealt Western economies the blow that many economists had been expecting by now, a fact that appears to be easing worries at the European Central Bank about a growth slowdown in the euro zone. Throughout 2003, oil prices were already generating concern when they were hovering around $30 a barrel; they spent the next year moving steadily upward. This year, they breached $60 a barrel, and on Thursday touched a record of $66 without having the effect that had been feared two years ago.''We are in completely uncharted territory,'' said Bruce Evers, an ...