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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: vampire who wrote (16133)12/26/2001 5:23:44 PM
From: Zeev Hed  Read Replies (1) of 99280
 
The very short response is that one is asking for troubles when fiscal and monetary policies are not national or transnational. All Euro countries maintain their internal fiscal policy, but a body of "elders" dictate the monetary policy for the whole Union. At some point, the national interest of one of the countries in the Union is going to cause a rift. The Union's currency is supposed to impose "discipline", I believe that instead it may become a yoke on Europe's economies, and as result is going to go into it's own decline. I would not be surprised to see the Euro under $.80/$.75 before the end of next year.

Zeev
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