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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Ahda who wrote (61187)	11/19/2000 10:05:45 PM
From: Alex	Read Replies (2) of 116759

Waigel in call for gold euro BY GRAHAM SEARJEANT FINANCIAL EDITOR THEO WAIGEL, former German Finance Minister, has called for gold euro coins to be issued to encourage confidence in the currency. The EU has no plans for gold coins. Herr Waigel, who was one of the chief architects of European monetary union as a member of Helmut Kohl’s Government, said that the rapid fall in the euro’s value “has considerable psychological effects on the confidence of the people who will be required to swap their national currency in a few months’ time”. He called for golden euros to be minted as legal tender in 2002, when euro coins appear. However, he said they would probably not circulate because collectors would keep them. Robert Mundell, the 1999 winner of the Nobel Prize for Economics, proposed that gold coins be minted in 100 denominations. Speaking at a Rome conference organised by the World Gold Council, Professor Mundell argued that gold coins had a role in supporting public sentiment towards the euro once ordinary people were obliged to use it. Copyright 2000 Times Newspapers Ltd.

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