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2013-11-05 — telegraph.co.uk
``A Deutsche Bank study said the euro "pain threshold" for Germany is $1.79. It is $1.24 for France, and $1.17 for Italy. It ended last week at $1.35 to the dollar. This means Germany is sitting pretty, and it dominates the policy machinery. Meanwhile, Italy screams with pain, its industrial output still 26 per cent below its 2008 peak. Italy's EU commissioner, Antonio Tajani, warns of "a systemic industrial massacre".''
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