FT.com: The Short View: Old Europe - John Authers

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Old Europe is fighting back. Last week’s hopes that the dollar had at last hit rock bottom foundered on Wednesday on the sheer weight of optimism coming from Europe. The Ifo survey of German business conditions found growing optimism about the outlook, with current conditions far more favourable than they had been for most of this decade. French business confidence also improved. The contrast with surveys of US sentiment, which suggest executives are about to head for the hills, is stark.