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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: goldsnow who wrote (10494)	4/23/1998 3:00:00 PM
From: Alex	Read Replies (4) of 116764

Thursday April 23, 12:56 pm Eastern Time German parliament votes to back launch of euro BONN, April 23 (Reuters) - Germany's lower house of parliament voted overwhelmingly on Thursday to back the launch of Europe's single currency, with the project gaining support from all the chamber's main political parties. Parliament's strong backing for the euro, by a resounding 575 votes to 35 with five abstentions, contrasted sharply with fears that still nag a majority of Germans over swapping their trusted deutschemark for the untested euro. Deputies greeted the result of the vote with a round of applause. Chancellor Helmut Kohl, one of Europe's most committed champions of currency union, pledged Germany was entering the monetary union with its eyes open and that there was no danger Germans would be end up with a lightweight currency. ''This euro in no shape or form an incalculable risk,'' he told parliament in a debate before the vote. ''I am certain that in just a few years' time the euro will be accepted as readily as the deutschemark is now.'' He also reminded Germans, whom polls consistently show harbouring deep reservations on the euro, that siting the future European Central Bank in Frankfurt meant the currency would be managed from German soil.

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