In Germany, output prices are remaining very subdued and it's a suggestion that German companies are being more competitive than companies in, say, France and Italy on price, and therefore winning more business abroad.

France is benefiting from the global upturn we're seeing, with increasing numbers of companies in Asia and the U.S. buying investment goods in particular.

Without Germany seeing its improvement in growth, we would have seen a much stronger downturn (in the euro zone index),

I wanted to get a rematch with Wladimir [Klitschko] but I wasn't going to Germany. I wasn't going to go over and just hand my belt to the Germans. I'm glad it didn't happen in Germany. Over here, no problem. But not in Germany.

Building fast-growing, globally competitive companies is tough.

While sentiment is so strong, it would be foolish to fight the trend in prices.