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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: maceng2 who wrote (3201)1/2/2002 9:53:24 PM
From: Hawkmoon  Read Replies (1) of 3536
 
Well, there had better not be any problems.. They've had two years to get prepared... LOL!!

But the hardest part is yet to come, as all of the various economies are herded under one currency and ECB fiscal policy. Before the ECB had to play "nice-nice" with the various members of the EU, since these nations could have reverted back to their previous currencies. But now, everyone is united under one currency, which provides tremendous coercive economic decision-making power within the ECB, and "going back" will be unthinkable once the last of the old currencies are exchanged.

It will be interesting to see if the Dollar and Euro finally achieve some form of parity. Personally, I would like to see it happen, as it would put trade between the two economies on an even playing field, with none of this economic subsidization that occurs through currency devaluation.

Hawk
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