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To: John Hunt who wrote (16832)	10/25/1998 6:05:00 AM
From: John Hunt	Read Replies (1) of 18056

Euro's Backers Scheme nypostonline.com << You don't think of a bunch of bureaucrats in Brussels and Frankfurt, shuttling from one interminable conference to another. But that is the face of a new, and intrinsically hostile, financial power. The euro, the currency of continental Europe, is coming into being on Jan. 1, and it is becoming clearer that its backers plan to use it to dethrone the dollar from its role as the main global reserve currency. This isn't trivial, since we are now very dependent on rest of the world, and Europe in particular to finance our economy. While the federal deficit has been put off to the future, the U.S. private economy needs a lot of foreign capital. It's a lot easier to get it if we can pay it back in our own money. If the Euros have their way about the euro, we won't. >>

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