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Technology Stocks : Nokia (NOK)

NOK 5.880

-2.6%

3:59 PM EST

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To: Nils Mork-Ulnes who started this subject	6/27/2001 2:57:19 PM
From: Ruffian	Read Replies (1) of 34857

Why so much Fear in Euroland? Treasury Chief Hits at Europe Over GE Deal DETROIT (Reuters) - Treasury Secretary Paul O'Neill said on Wednesday it would be ``off the wall'' for European Commission to block General Electric Co.'s(NYSE:GE - news) bid to buy Honeywell International Inc.(NYSE:HON - news) In an appearance at the Economic Club of Detroit, O'Neill said the European regulators are ``not elected, they're not subject to judicial review.'' ``They are the closest thing you can find to an autocratic organization that can successfully impose their will on things that one would think are outside their scope of attention,'' O'Neill said in response to a question after giving a speech on international finance issues. The comments are the latest in a drumbeat of public statements over the last two weeks from U.S. officials, including President Bush and U.S. Trade Representative Robert Zoellick, expressing concern over the European stance against the merger. On Monday a European Union advisory committee voted in support of EC staff objections to the deal. A final European Commission vote on the purchase is scheduled for July 3. Email this story - Most-emailed articles - Most-viewed articles

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