Financial Times FT.com

Insight: The ring of prosperity surrounding Europe’s core

By Joe Quinlan, chief market strategist at Bank of America

Published: January 7 2008 17:33 | Last updated: January 7 2008 18:02

The Polish plumber, the Turkish textile worker, the illegal immigrant from Northern Africa – these are the images of Europe’s periphery, and a key reason why some in the EU15 would like to build a 21st century moat to keep the neighbours at bay.

Ironically, however, it’s the periphery that has emerged as a key source of growth for the core of Europe.

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