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Strategies & Market Trends : Asia Forum

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To: philv who wrote (2075)	2/12/1998 10:57:00 AM
From: Thomas Haegin	Read Replies (1) of 9980

Phil, << How do you see the eventual outcome of Britain's dilemma. Will she be in or out of the EMU? Britain has never completely accepted she is part of Europe, has she? >> Well, I think eventually the UK will be in or will get a peg to it at least the same for Seitzerland. For the UK it's quite funny to be in the EU, but not to join the common currency. Once the Euro proves itself, british concerns will ease, IMO. IT may take more years though. Yes, the British are quite sceptical about Europe. The think of themselves still as an island. The Swiss are still in love with their Swiss Franc. A very strong Franc placing a burden on our export competitiveness may be the final kick needed to convince us to join the EMU. But the British will join before we will ever do. Otherwise, we will get a de facto peg also. It's practically there already vs. the Deutschmark: Look at the rates: it fluctuates between CHF 0.81 to 0.85 for 1 DEM normally. That's very little. I'm quite sure our SNB is in daily touch with Mr. Tietmeyer from the Bundesbank, our folks trying not to screw-up <g>. Thomas

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