- ECB 50BP CUT GOOD FOR GERMANY,WLD ALSO BOOST EMU GDP
- +1.2% GERMANY 2001 GDP FCAST INDEPENDENT OF US PICKUP
- FED RATE CUTS WILL BRING SHORT-TERM US RECOVERY
- STILL LONG-TERM RISKS FROM US C/A, SAVINGS IMBALANCES
- FOREIGNERS' DM SWITCH TO DLRS IMPACTING EURO