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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (43019)7/16/2002 2:33:44 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
<<Parity between the euro and the dollar is not technically significant, it will give a psychological boost to Europeans, whose confidence was sapped when the euro tumbled on its launch.

Throughout the euro's long decline, European politicians and monetary officials repeatedly insisted that the currency was undervalued.

In private, however, eurozone governments welcomed the fall because it made exports cheaper and eased pressure to push through potentially unpopular reforms of labour markets and economies.

The rise of the euro will constrain inflationary pressures but could weigh on eurozone exports and put the spotlight back on governments to get their economies in order, analysts said. >>(From City report today.. )
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