Advertisement
HomeCollectionsSingle Currency
IN THE NEWS

Single Currency

FEATURED ARTICLES
NEWS
By Peter Morici | May 14, 2012
Europe's single currency is a bust. With unemployment reaching depression levels in the Mediterranean states, time has long passed to negotiate an orderly return to national currencies. Euro advocates argue a single currency is essential for creating a unified continental economy, and the euro is falling short of expectations because monetary union was initiated without fiscal union - namely, sovereign taxing and spending authority for Brussels. Those arguments are little more than polemics from politicians, public servants and pundits who have staked their reputations and careers on a failed economic idea.
ARTICLES BY DATE
NEWS
By Peter Morici | May 14, 2012
Europe's single currency is a bust. With unemployment reaching depression levels in the Mediterranean states, time has long passed to negotiate an orderly return to national currencies. Euro advocates argue a single currency is essential for creating a unified continental economy, and the euro is falling short of expectations because monetary union was initiated without fiscal union - namely, sovereign taxing and spending authority for Brussels. Those arguments are little more than polemics from politicians, public servants and pundits who have staked their reputations and careers on a failed economic idea.
Advertisement
NEWS
By Richard O'Mara and Richard O'Mara,Sun Staff Correspondent | December 10, 1991
MAASTRICHT, Netherlands -- The word "irreversible" has come to dominate the European Community summit here as a majority of the 12 member-states appear determined to launch the EC into a new phase of its life, one from which there can be no turning back.Last night the 12 tentatively agreed to a formula that would fix the currency rates of the community members possibly by 1996, if the economies of at least seven countries meet stiff criteria by then.If not, a decision would be made automatically in 1999 to go to monetary union.
NEWS
By Jeff Israely and Jeff Israely,SPECIAL TO THE SUN | November 5, 1999
ROME -- Everyone, it seems, is preparing for the arrival of the new European single currency -- bankers, businesses, consumers and, yes, also international criminals.Mafia men and white-collar crooks are among European big spenders anxious to exchange their outgoing currencies before they lose their value with the debut of euro cash and coins in 2002.Authorities say the coming of European single-currency bank notes will create an unprecedented make-or-break phase in the billion-dollar battle to curb money laundering -- with both criminals and police looking to capitalize on the rush to turn in the outgoing 11 euro-zone currencies.
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 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
By Jeff Israely and Jeff Israely,SPECIAL TO THE SUN | November 5, 1999
ROME -- Everyone, it seems, is preparing for the arrival of the new European single currency -- bankers, businesses, consumers and, yes, also international criminals.Mafia men and white-collar crooks are among European big spenders anxious to exchange their outgoing currencies before they lose their value with the debut of euro cash and coins in 2002.Authorities say the coming of European single-currency bank notes will create an unprecedented make-or-break phase in the billion-dollar battle to curb money laundering -- with both criminals and police looking to capitalize on the rush to turn in the outgoing 11 euro-zone currencies.
NEWS
By Los Angeles Times | September 17, 1992
The turmoil that has gripped financial markets in recent days has raised doubts about the health of the global economy and the faltering U.S. recovery. Here are answers to some pressing questions Americans may have about the crisis.* Will the crisis in the European financial markets mean a fresh blow to global markets and the U.S. economy?If it persists, yes. If it is resolved quickly, probably not. It appears that the Europeans could be forced once again to realign their currencies. That would most likely hasten the decline in interest rates there, which could mean lower rates here.
NEWS
By NEW YORK TIMES NEWS SERVICE ..TC | June 15, 1997
FRANKFURT, Germany -- When European leaders gather for a meeting in Amsterdam tomorrow, they will almost certainly portray themselves as solidly united in the last mile of a historic project: the introduction of the euro, the celebrated single European currency envisioned as a big step toward a fully united Europe.The reality will be different. Having been pushed further than most people ever thought possible, the euro is pulling Europe apart at the seams.In the past three weeks, France's conservative prime minister has been defeated.
NEWS
October 22, 1997
THE LIKELIHOOD has increased that the European Union will have the mechanisms for a single currency -- the ''euro'' -- in place by Jan. 1, 1999, and will have coins and notes in circulation in two-thirds of its 15 member countries by mid-2002.A few months ago, this reach seemed beyond Europe's grasp. Germany's cost of unification and France's tenacious retention of the welfare state meant the necessary deficit reductions could not be achieved. It was fashionable to say that only Luxembourg met the hard-currency criteria and only Ireland came close.
NEWS
By William Pfaff | January 6, 1999
PARIS -- The arrival of a common European currency is a watershed in the relationship of the United States to the new Europe.It is the most important event for European integration since the Treaties of Rome in 1957. It promises to be the most important event for the United States since Communism collapsed.Since 1989, the United States has been, in economic and military terms, the most powerful state in the world. Washington has imagined no serious challenge to American power until the distant future.
BUSINESS
By BLOOMBERG NEWS | January 1, 1999
NEW YORK -- Increased competition and the rush to be global could make 1999 the fifth consecutive record year for mergers and acquisitions -- exceeding the $2.5 trillion of announced transactions in 1998.More agreements like Daimler Benz AG's $34.8 billion purchase of Chrysler Corp. and SBC Communications Inc.'s purchase of Ameritech Corp. for $83.6 billion are expected as companies forge links to cut costs and compete worldwide.The blurring of borders in Europe, where 11 countries are adopting a single currency, will also create the need for companies with the bulk to serve a market as big as the United States.
NEWS
By Bill Glauber and Bill Glauber,SUN FOREIGN STAFF | December 31, 1998
LILLE, France -- Chantal Dabin's heart lies in Europe. The 16-year-old French schoolgirl studies Spanish and English, travels widely and is certain that tomorrow's birth of the euro currency heralds a new age for her continent and generation."
NEWS
May 7, 1998
SOON the world will consist of two economic superpowers, Euroland and the United States of America, with Japan a junior partner. This will result from an unprecedented reversal in the relationship of political to monetary power.Throughout history, governments consolidated control, then minted money. The 11 members of the European Union that agreed over the weekend to create a common currency established monetary unity without prior political authority.The 15 members of the European Union have a single market in trade, goods, regulations and labor.
NEWS
October 22, 1997
THE LIKELIHOOD has increased that the European Union will have the mechanisms for a single currency -- the ''euro'' -- in place by Jan. 1, 1999, and will have coins and notes in circulation in two-thirds of its 15 member countries by mid-2002.A few months ago, this reach seemed beyond Europe's grasp. Germany's cost of unification and France's tenacious retention of the welfare state meant the necessary deficit reductions could not be achieved. It was fashionable to say that only Luxembourg met the hard-currency criteria and only Ireland came close.
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
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
By William Pfaff | January 6, 1999
PARIS -- The arrival of a common European currency is a watershed in the relationship of the United States to the new Europe.It is the most important event for European integration since the Treaties of Rome in 1957. It promises to be the most important event for the United States since Communism collapsed.Since 1989, the United States has been, in economic and military terms, the most powerful state in the world. Washington has imagined no serious challenge to American power until the distant future.
NEWS
By NEW YORK TIMES NEWS SERVICE ..TC | June 15, 1997
FRANKFURT, Germany -- When European leaders gather for a meeting in Amsterdam tomorrow, they will almost certainly portray themselves as solidly united in the last mile of a historic project: the introduction of the euro, the celebrated single European currency envisioned as a big step toward a fully united Europe.The reality will be different. Having been pushed further than most people ever thought possible, the euro is pulling Europe apart at the seams.In the past three weeks, France's conservative prime minister has been defeated.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.