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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: LLCF who wrote (104106)	5/22/2001 10:41:29 PM
From: LLCF	Read Replies (1) of 436258

I think you underestimate the cultural differences between the U.S. and Europe... for instance, when Germany merged with East Germany they made East German marks EQUAL to west German marks against any 'real' valuation estimates. Economists and of course Bankers watched closely at this "gift" to the east and the DM plummeted... BUT, they shut up and did it took it on the chin and now it's done. No disaster, no end of the world. Compared to that this is a walk in the park, I think any economist would agree. As for the 'lesser' countries, ie. Italy, etc... this new currency is a god send. This is a huge gift from the Germans and other stable currency countries to Italy, Spain, etc... they'll be using EURO in Madrid on day one and LOVE IT. They'll grouse in Frankfurt but in German style they'll go on with life. This is my prediction. DAK

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