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Gold/Mining/Energy : Euro Impact on Gold, USD ...
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To: Broken_Clock who wrote (149)1/7/1999 9:53:00 PM
From: banco$  Read Replies (1) of 289
 
IMF remarks on EMU and euro. What are they really saying, and will it exacerbate problems as its policies have elsewhere in the world?
Improving of the working of labor probably translates to a clamp down on employees such as advancement of non-union labor and wanton corporate deregulation - especially cross-border mobility, leaving workers behind. Reform is an upbeat sounding term often used to cloak a brutal scheme, in this case the cessation of social benefits programs. And lightening the burden of taxation for who; it's probably directed solely at corporations and not the general public. Collectively these proposals wrapped in the "job creation" cliche could tear at Western Europe.

"Improving the working of labor and product markets, reforming public spending programs and lightening the burden of taxation--these are the key to realizing Europe's full potential for lasting job creation and growth.
We at the IMF look forward to playing a full part in this process--in our surveillance of euro area policies and more generally in providing a forum in which the members of the euro area and their international partners can work together in the interest of a well functioning international monetary system--surely the key purpose of the IMF," Camdessus concluded."
imf.org
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