MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Steve Lee who wrote (10067)	2/2/2002 12:47:23 AM
From: Moominoid	Read Replies (1) of 19219

Britain is and will be more and more effectively a part of the same country as the rest of the EU. There are language barriers etc. which reduce the theoretical free mobility of labor so adjustment to a single monetary policy is harder than in the US. Companies like Deutsche Bank are adopting English as their working language. Business is generally in favor of adopting the Euro. In opinion polls numbers favoring and against and don't know on UK adopting the Euro are about equal. The main barrier is that the pound is overvalued against the Euro and hasn't shown much sign of converging. Maybe the markets think it will never happen. Maybe the overvalued USD will have to come down first. With time and free migration between the US and Mexico it would make sense to adopt a single currency in the 3 country NAFTA region. for a start.

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