Europe growth rates diverge

Article indicates that the state of the economy is different European countries is showing widening divergences, complicating the task of policymakers as global financial market turmoil sends storm warning signals. Economic confidence indicators, as well as other recent data, have pointed to startling differences in performance across the 15-country eurozone and beyond in the spring of 2008.

If eventually reflected in growth figures, such differences could revive arguments that have beset the European Central Bank since the launch of the euro in 1999 over the effectiveness of a 'one-size-fits-all' monetary policy.