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Gold/Mining/Energy : Bema(Bgo) and Arizona Star

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To: IngotWeTrust who wrote (8031)	10/27/1997 5:57:00 PM
From: virginijus poshkus	Read Replies (1) of 10482

Ole49r, here is the british relrase. 12:43 PM (ET) 10/27 Brit. Official Puts off Euro Link LONDON (AP) -- Britain's treasury chief on Monday ruled out converting to a single European currency in 1999, but offered reassurances that the government recognized "it is right in principle to join" if the economic benefits of doing so are proven. "It must be clearly recognized ... that to share a common monetary policy with other states does represent a major pooling of economic sovereignty," Chancellor of the Exchequer Gordon Brown told Parliament. "The determining factor ... is the national economic interest and whether the economic case for doing so is clear and unambiguous," Brown said. He said evaluating those elements would take "a period of years," too late to join the first wave of conversions on Jan. 1, 1998. "Barring some fundamental and unforseen circumstances, making a decision during this Parliament to join is not realistic," Brown said -- which would put it off until at least 2002. Brown also reiterated that Britain would not adopt the euro unless it was approved by voters in a referendum. "The government, Parliament and the people must all agree," he said. vargas

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