EU hard-pressed by energy crisis

“The euro-dollar parity, however symbolic, is not of substantial macroeconomic consequence, aside from continuing the trend of euro depreciation that has been ongoing since 2008. European goods and tourism again become cheaper for Americans” said David DeRemer. European countries feel impacts of soaring inflation, pinched incomes, and less consumer confidence. And latest economic predictions are much weaker than the spring forecast, writes ChinaDaily.