Der Euro in Europa - Luxemburg
other smaller countries, Luxembourg has
suffered a sharp boom-bust cycle, brought
about by having the wrong interest rate.
Average growth from 1993-1998 was 4.7 percent,
spiking to 8.9 percent in 2000. This overheating
was replaced by a sharp downward cycle and
growth in 2002 was stagnant at 0.1 percent.
has an upwards trend. Unemployment in Luxembourg
has risen from 2.6 percent in 2001 to 3
percent in 2002, and is forecast to rise
to 3.5 percent in 2003 (OECD).