Euro Impact on Gold, USD ... Message Board

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Gold/Mining/Energy : Euro Impact on Gold, USD ...

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To: Edmund Lee who wrote (168)	12/28/1998 8:59:00 PM
From: banco$	of 289

Ed, the euro and national (legacy) currencies will exist in tandem until 2002. Some things to consider effective January 1 of this week are listed below: "On January 1 Exchange rates to be 'irrevocably fixed' amongst those countries qualifying for Emu. The Euro comes into formal existence. 1 Euro to be valued at Ecu 1. National currencies continues to have legal force. New public debt to be issued in Euros. European Central Bank takes over operation of Emu area monetary policy. ESCB to use only the Euro in its money market and foreign exchange operations. TARGET system comes into operation for cross-border settlements. Private sector free to use national currencies or Euros." (EmuNet, euro-emu.co.uk

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