After the boom

June 13, 1999

Here is an excerpt of an editorial from the Corriere della Sera, of Milan, Italy, which was published Wednesday.

AFTER nine years of economic expansion, the United States continues to be the economic motor of the world. But what will happen if Wall Street suddenly gives in?

According to International Monetary Fund economists, the growth of the U.S. economy would stop, and the euro's value would strengthen with respect to the dollar. But with minimal growth and a less competitive exchange rate, the European economy would slow down.

The economy of the 15 European countries represents a fifth of the world economy -- exactly that of the United States. And yet Europeans continue to think like they are still living in their own, small countries.

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