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NEWS
December 31, 2001
FEW STROKES of midnight are as portentous as this New Year's in Europe, which ushers in the euro as the currency of 12 countries. No more changing escudos to drachmas, or francs to marks. The euro (current value about 89 cents) is king. The national and international currencies will trade together for two months. Come March, the fabled notes and coins of 300 million Europeans will vanish from use, worth only their weight in Confederate dollars. This is a boon to the rushing American tourist, unsure of which one is Belgium, nibbled to death by money-changing fees.
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NEWS
By Tom Hundley and Tom Hundley,CHICAGO TRIBUNE | September 15, 2003
STOCKHOLM, Sweden - Swedes overwhelmingly rejected the euro yesterday in a referendum that was clouded by last week's killing of Foreign Minister Anna Lindh, a leading proponent of the European common currency. Lindh, one of the country's most popular politicians, was stabbed by an unknown assailant Wednesday while shopping in a downtown Stockholm department store. Although opinion polls taken before the incident showed the euro going down to defeat, the national trauma of her death appeared to give last-minute impetus to the "yes" campaign.
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NEWS
By DAN BERGER | December 10, 1991
All Europe is going to form one common currency, and call it the Deutsche Mark.Some people think a democracy is where everyone gets to vote on a criminal trial verdict.
NEWS
December 31, 2001
FEW STROKES of midnight are as portentous as this New Year's in Europe, which ushers in the euro as the currency of 12 countries. No more changing escudos to drachmas, or francs to marks. The euro (current value about 89 cents) is king. The national and international currencies will trade together for two months. Come March, the fabled notes and coins of 300 million Europeans will vanish from use, worth only their weight in Confederate dollars. This is a boon to the rushing American tourist, unsure of which one is Belgium, nibbled to death by money-changing fees.
NEWS
By Tom Hundley and Tom Hundley,CHICAGO TRIBUNE | September 15, 2003
STOCKHOLM, Sweden - Swedes overwhelmingly rejected the euro yesterday in a referendum that was clouded by last week's killing of Foreign Minister Anna Lindh, a leading proponent of the European common currency. Lindh, one of the country's most popular politicians, was stabbed by an unknown assailant Wednesday while shopping in a downtown Stockholm department store. Although opinion polls taken before the incident showed the euro going down to defeat, the national trauma of her death appeared to give last-minute impetus to the "yes" campaign.
NEWS
May 25, 1997
FRENCH VOTERS will choose in the parliamentary election starting today between the welfare state to which they feel entitled or a common European currency the year after next. That is, they must choose between a leftish party and the ruling conservative coalition. Both promise the French can have it all; neither means it.Two center-right parties knocked the Socialists out of the box in the 1993 parliamentary elections, winning four-fifths of the seats. In 1995 Gaullist Jacques Chirac won the presidency long held by Socialist Francois Mitterrand.
NEWS
October 4, 2000
DANISH VOTERS' rejection of the euro in a referendum last week sets back the cause of European integration. The outcome will probably delay the decision of two larger countries, Great Britain and Sweden, about whether to join the common currency of 12 nations in the European Union. They are committed to go to their own voters first, and won't want to for a while. The Danish rejection may also slow the drive of Central and Eastern European small nations to join the EU. Although the Social Democratic-led government of Denmark tried to make this a technical economic question, the voters saw it as political.
BUSINESS
By Journal of Commerce | August 28, 1995
NEW YORK -- Mexicans are not even debating the issue, the Federal Reserve is totally opposed and most Canadians think it's a loony idea, but some economists believe that North America will have a common currency by the year 2000, known as the Eagle.That would be just one year after the planned monetary union in the European Union."I don't think you can go much further with trade integration without finding that using separate currencies is less and less helpful," said George M. von Furstenberg, professor of economics at Indiana University, Bloomington.
NEWS
By William Pfaff | December 14, 1995
PARIS -- The conventional wisdom says France's strikes are a doomed rebellion against the iron imperatives of the international marketplace, and a dangerous revolt against ''Europe'' as well -- against the single currency and the budget constraints necessary to bring the French economy into that single currency.The French Prime Minister, Alain Juppe, has said that if the strikers prevail, ''we will have moved over to the path of decline, slow but certain.'' Comment elsewhere in Europe is even more apocalyptic.
NEWS
By EDUARDO CUE | July 12, 1992
Paris. -- Events have overtaken the Maastricht Treaty on European unity approved with great fanfare last December by the leaders of the 12 European Community nations, and with the passing of time it is becoming increasingly uncertain that the accord will ever be implemented in its current form.The treaty would establishes a common currency and an independent central bank to manage it, and would move the community further down the road toward creating a common foreign and security policy. It is coming under attack from a wide spectrum ranging from the left wing of European Socialist parties to the extreme right.
NEWS
October 4, 2000
DANISH VOTERS' rejection of the euro in a referendum last week sets back the cause of European integration. The outcome will probably delay the decision of two larger countries, Great Britain and Sweden, about whether to join the common currency of 12 nations in the European Union. They are committed to go to their own voters first, and won't want to for a while. The Danish rejection may also slow the drive of Central and Eastern European small nations to join the EU. Although the Social Democratic-led government of Denmark tried to make this a technical economic question, the voters saw it as political.
NEWS
By Paul Krugman | February 1, 2000
DAVOS, Switzerland -- Maybe it's a sign of maturity, or maybe it's just that typical American obliviousness to the outside world. Whatever the reason, the United States has an admirably relaxed attitude toward the international value of its currency. When the dollar slides against the yen, we do not take it as a slur on our national virility. Indeed, the strong yen mainly has the Japanese worried, because they fear -- rightly -- that it may price their goods out of world markets and make their now-you-see-it-now-you-don't economic recovery vanish into thin air. Blas is OK As far as the economic fundamentals are concerned, euroland -- the group of 11 European nations that has adopted the euro as its common currency -- ought to be as blase about currency fluctuations as we are. Like the United States, euroland is a huge economic area, mainly trading with itself; if its exchange rate fluctuates, as exchange rates will, why should it be concerned?
NEWS
By NEW YORK TIMES NEWS SERVICE | October 26, 1998
KLAGENFURT, Austria -- With left-center majorities in power in most of the 15 countries of the European Union, its leaders ended a weekend summit meeting yesterday in broad agreement that it was time to pursue less restrictive economic and monetary policies to guard against a world recession."
BUSINESS
By THE BOSTON GLOBE | May 18, 1998
Lured by economic recovery and structural changes that are making Europe more competitive in the American mold, U.S. mutual fund managers and investors are increasingly eyeing European stocks.From Madrid, Spain, to Helsinki, Finland, European bourses are blossoming, producing gains so far this year that in many cases are already double the U.S. market's returns. Ecstatic portfolio managers say that individual fund investors -- stung by Asia but wanting exposure to overseas markets -- are finally catching on to Europe's grand awakening.
NEWS
By Richard O'Mara and Richard O'Mara,SUN STAFF | July 22, 1997
Europe abounds with pessimists. They believe the prospects for the new single currency, which the leaders of the European Union seem intent on bringing into being on schedule in 1999, are not good.They aren't. But neither were the dollar's at the outset of the Great Experiment officially known as the United States of America. Our "euro" was long and hard in coming. It took a war to get it.The struggle for monetary union in America paralleled and reflected the competition for political and economic power between the states and the federal government, a competition that continues even today in many areas, if not on the question of currency.
NEWS
June 3, 1997
SPURNING THE FASHION for conservative politics, the French electorate has followed Britain's in putting the party of the left in power. In both countries it is the moderate left, no longer crusading for massive state ownership, but resolved to strengthen what remains of the welfare state.Conservative President Jacques Chirac arrogantly heeded the polls while disregarding the economy in calling the election unnecessarily early. With nearly 13 percent unemployment, the younger French voters chose the Socialist Party's promise to create 700,000 jobs, half in the public sector, and to reduce the 39-hour work week to 35 hours with no loss in pay.These were the voters who four years ago put the center-right coalition in massive majority in the National Assembly and put the Socialist Party's future in doubt.
NEWS
By WILLIAM PFAFF | June 20, 1991
Europe nears a crisis as yet unarticulated. While political union for the existing economic community is being negotiated, the geographical dimensions of ''Europe'' have been thrown into fundamental confusion and controversy by the liberation of Eastern Europe.French President Francois Mitterrand said several days ago that it could be ''dozens and dozens of years'' before the East European countries are admitted to the 12-member European Community. He later amended that to say that each case was different.
NEWS
September 23, 1992
Management of major world economies has turned into the equivalent of a fraternity food fight. The latest currency to get it in the face is the French franc. Smelling blood after making a killing on the British pound and the Italian lira, speculators are tossing whatever slop they can get their hands on against a currency that, in a rational world, should be able to stand up to the onslaught.France has perhaps the best economic fundamentals in all of Europe, but one thing it does not possess is the mighty German deutsche mark.
NEWS
May 25, 1997
FRENCH VOTERS will choose in the parliamentary election starting today between the welfare state to which they feel entitled or a common European currency the year after next. That is, they must choose between a leftish party and the ruling conservative coalition. Both promise the French can have it all; neither means it.Two center-right parties knocked the Socialists out of the box in the 1993 parliamentary elections, winning four-fifths of the seats. In 1995 Gaullist Jacques Chirac won the presidency long held by Socialist Francois Mitterrand.
NEWS
April 25, 1997
ALTHOUGH FRANCE's unemployment rate has hit an appalling post-war record high of 12.8 percent, President Jacques Chirac has chosen this moment to call a snap parliamentary election on May 25 and June 1 -- a month after Britain goes to the polls. In both countries, European Union issues stand at the heart of political controversy, with Mr. Chirac determined to join with Germany in launching a common European currency and Britain's two main parties pandering to Euroskeptic "Union Jack" tendencies.
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