"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Thursday, August 03, 2006

More boring EU statistics, dearer energy, cheaper barmaids

Eurostat the official source of EU statistics latest monthly report 104/2006 2/8/06 (PDF Alert) shows that Euro area industrial producer prices rose by 0.2% month on month.

Tucked away from the headlines you will find that the 5.8% annual increase in producer prices is driven by ...

....In June 2006 compared to June 2005,in the Euro area, Prices in the energy sector rose by 15.7% and for the E25 by 17.6% respectively.

An energy report earlier in the month (PDF Alert)reminds us that 80% of EU25 gas supplies originate in three countries, Norway, Algeria and Russia and the their shares have changed from 1994 - 2004 as follows

Russia 32 % - 48%
Algeria 15% - 15%
Norway 20% - 15%

Mean while consumption of natural gas in 2005 in EU-25 rose by 2.9% compared with 2004 to reach 475.0 million tonnes of oil equivalent (toe). the greatest growth was Spain (+22.9%), Estonia (+18.2%), Portugal (+13.6%) Reductions in consumption were recorded for (-9.3%),Luxembourg (-4.9%), Sweden (-4.7%), Denmark (-4.3%)

Production of natural gas in the EU in 2005 fell by 5.8% = to 198 million tones of oil equivalent.(UK fall 7.7%)

The good news is that report 103/2006 shows Euro area seasonally-adjusted unemployment has dropped to 7.8% in June 2006, compared to 8.6% in June 2005. The lowest rates were registered in the Netherlands (3.8%)and Denmark (3.9%) and the highest in Poland (16.0%) and Slovakia (15.1%).Which is why your pint will be pulled by a Slovak beauty and your roof repaired by a Pole..... roll on Romania and Bulgaria joining the EU next year.

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