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Strategies & Market Trends : Asia Forum
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To: philv who wrote (2058)2/12/1998 4:06:00 AM
From: Thomas Haegin  Read Replies (1) of 9980
 
Phil, I absolutely agree with you. However, I'm not so sure whether a) the EMU will work smoothly right from the beginning and b) that the US$ will lose value in any big way just because EMU will work at some point. I could be wrong of course, especially on b).

Also there are still the British œ and the Swissie as (minor) reserve alternatives. In fact our Swiss National Bank (SNB) is very concerned that the Franc may appreciate considerably should EMU be really shaky. That would kill our exports on which we depend in a big way. The SNB is privately ready (only IMHO) to drive down interest rates to zero or less should the value increase dramatically.

Thomas
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