22 Total Quotes

Holger Schmieding Quotes

Whenever an economy is struggling, one should not raise taxes. New taxes will probably cut growth by 0.3 percent of GDP.
Holger Schmieding
#Economy

It is unlikely now that Germany and Italy will move ahead on the crucial issue of dismissal rules.
Holger Schmieding
#Germany

The hope that Germany would be a shining European example for accelerated reforms has been dashed,
Holger Schmieding
#Example

Germany does not need abstract economic ideas; it needs labor market reforms.
Holger Schmieding
#Germany

We won't see any steps backwards, but the tempo of reforms will slow. Germany won't be able to tap into its full potential. The economy is improving, it'll simply improve more slowly.
Holger Schmieding
#Germany

This is the worst thing we've had from the German economy for some time.
Holger Schmieding
#Economy

Lafontaine was seen as the arch-exponent of the hard left in Germany,
Holger Schmieding
#Germany

Whatever the color of Germany's new government will ultimately be, the pace of structural reforms is likely to be slow.
Holger Schmieding
#Government

French unemployment is stabilizing. We see further declines in the jobless rate.
Holger Schmieding
#Unemployment

We think around 4.5 percent is the adequate level for U.S. interest rates -- you could call it a neutral level -- and as there are modest inflation risks in the U.S., we expect the Fed to go slightly beyond that to 4.75.
Holger Schmieding
#Interest

While the surge in key leading indicators strengthens the case for a further rate hike in the near future, the absence of second round effects from the oil price spike and the decline in headline inflation in late 2005 argue against any haste.
Holger Schmieding
#Future

The ECB probably has not found a consensus yet on rate policy beyond Dec. 1. For this reason, the ECB is unlikely to provide any clear Fed-style guidance on the future course of rates,
Holger Schmieding
#Reason

The figures are not proof yet of an economic slowdown as they are being distorted by cutbacks in work creation programs.
Holger Schmieding
#Creation

They were slightly more dovish than I expected. There is a bit of a conflict between the bank's statement, and the numbers they gave.
Holger Schmieding
#Conflict

The evidence on U.K. consumption remains contradictory. Some data such as weak consumer confidence and the reluctance to use credit cards point to further weakness ahead. However, the modest rebound in the real estate market and anecdotal evidence of satisfactory Christmas indicate a modest strengthening in spending.
Holger Schmieding
#Confidence

Having been the sick man of Europe for much of the last decade, Germany is, for once, resuming its traditional role of a motor of economic development in the heart of Europe.
Holger Schmieding
#Germany

Growth looks more likely to stay below than to rise above 2.5 in the foreseeable future. A further decline in inflation, coupled with mediocre growth, will likely tilt the balance towards further rate cuts later this year.
Holger Schmieding
#Future

Slow growth last year is still affecting the labor market.
Holger Schmieding
#Growth

Six quarters of mostly below-trend growth are taking their toll. The trend in rising unemployment and muted wage pressures suggests underlying inflation in the UK could ease further, keeping the door open for a possible rate cut later this year.
Holger Schmieding
#Growth

We've just had the worst 24 hours for the European reform outlook in a long, long time.
Holger Schmieding
#Reform

The last 24 hours were the worst setback for reform hopes in Europe in a long time.
Holger Schmieding
#Reform

The orders data confirm that demand is very robust and we expect a significant acceleration in output growth shortly.
Holger Schmieding
#Growth