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It is hard to understand what the chart has to do with the article

FT.com / Companies / Industrials - Exporters squeezed by euro strength

The strength of the euro is forcing European companies to step up cost-cutting to compete with rivals from the US and elsewhere amid fears that it could slow their recovery when demand picks up.
I mean, the other two are about the EUR/USD exchange rate and the drop in exports since 2008, so those make sense.

But the comparative default rates?

A man of words and not of deeds is like a garden full of weeds; a man of deeds and not of words is like a garden full of turds — Anonymous

by Migeru (migeru at eurotrib dot com) on Tue Jul 7th, 2009 at 01:07:57 PM EST
that's why I used the chart without reference to the article. I suppose I could have used the angle that they provide data that directly contradicts their "Europe.Is.Doomed" theme...

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Tue Jul 7th, 2009 at 01:19:39 PM EST
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