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To: Mike M2 who wrote (48076)	4/25/2000 4:35:00 PM
From: pater tenebrarum	Respond to of 99985

Mike, o.k., Katy...:) anyway, the sell-off of the Euro has begun to take on the air of a good old-fashioned panic. and yet i don't think it will galvanize the ECB into taking action. half of the Euro-zone members are used to constant competitive devaluation of their currency, so to them this is the normal state of affairs. the biggest risk is a backlash in German public opinion that may be developing. after all, everybody knows the BuBA would simply not have ALLOWED this to happen. regards, hb