Eurozone world’s largest economy

March 20, 2008

For as long as the dollar trades at where it has been, the Eurozone is perhaps larger than the US economy. A more important indicator than say, whether oil is above or below $100 a barrel?

http://afp.google.com/article/ALeqM5j2RAttyZxnntuDYUI-Crf9hcbgXA

The dollar’s plunge has made the eurozone the world’s biggest economy by one measure and has underscored shifts that are reorienting the 15-nation bloc towards Asia, Russia and oil-rich Gulf states, analysts say.

“With the euro now trading around 1.56 against the dollar, the size of its annual output (at market value) has exceeded that of the United States,” US investment bank Goldman Sachs estimated last week.

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