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Politics : Idea Of The Day

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To: Taqi Hasan who wrote (12651)	10/23/1997 8:19:00 PM
From: IQBAL LATIF	of 50167

I am tonight thinking about a similar experience I had when sterling was attacked black Monday- the currency could not stand the pressure and collapsed but the results within five years are a definitely productive economy- French were also subjected to attacks by speculators in 1993 and 94, Balladour French Prime Minister and architect of 'Francfort' policy successfully defended the assault for a week- once they finally allowed the band to be widened to 3,70 FRF did go up there but finally settled within the tight band of EMU. HK has in comparison with Indonesia Malayasia Thailand far better economic and reserve prowess- they in my opinion not only repulse the speculators but I expect the grounds lost on equity to be partially regained bringing some semblance of order by next week= tonight like France they may relax the band but as they have already announced that interest rates will stay high until the attack is repulsed they may see a partial withdrawl of speculators tonight, I give this more than even chance but may be I am biased..

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