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To: The Vet who wrote (60328)	10/29/2000 9:44:52 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116929

Hey Listen Vet.. I'm for free and FAIR trade.... There are various methods that a nation can utilize for preventing foreign goods from becoming available to their people. As for the tariff, I would rather it go to the steel companies who are actually being damaged, than to some pork barrel project in the government budget. And such a program has the duel effect of having the Japanese subsidize our steel industry, rather than us doing it. Regards, Ron

To: The Vet who wrote (60328)	10/30/2000 6:58:39 AM
From: Alex	Read Replies (1) \| Respond to of 116929

German economists in court to save the mark By Toby Helm in Berlin A LEGAL challenge to stop German membership of the euro was launched by leading academics yesterday. The case is to be lodged in Germany's constitutional court by Prof Wilhelm Hankel, an economist at the University of Frankfurt. He is backed by several euro-sceptic academics who say the euro has delivered inflation of 2.8 per cent, compared to levels below two per cent before its introduction in January last year. Professor Hankel argues that the currency has failed to meet the key constitutional criterion of stability, as cited by a judge when ruling in favour of the single currency against the mark in a previous case. Professor Hankel, who lost a court case to delay membership to the single currency two years ago, said: "I am preparing a constitutional challenge that should stop the euro." While embarrassing for the government, his case is unlikely to succeed. The German government has recently insisted that the euro was bringing stability and growth to the economy, in sharp contrast with the instability of America. Hans Eichel, the Finance Minister, told MPs in the Reichstag that the situation was the best it had been for a long time. He said: Economic growth remains strong, unemployment will fall and inflation will stay under control." While some experts are blaming the euro's 30 per cent plunge in value against the dollar on German foot-dragging over American-style economic reforms, Mr Eichel suggested that the real problems for the world economy lay across the Atlantic. He said that growth rates in America were unsustainable. The danger was of an American "hard landing" that would bruise the global economy. Mr Eichel said: "You cannot have sustained economic growth with such a high balance of payments deficit and such a low savings rate. I hope this problem for the world economy reaches a gentle resolution." As Mr Eichel spoke, Washington was preparing to announce a rapid fall in economic growth from 5.6 to 2.7 per cent in the third quarter of this year. German growth is expected to average three per cent. However, there is hardly an analyst in Frankfurt, Paris or London who will not cite Germany's unreformed economy - with astronomical non-wage labour costs that stoke unemployment, and inflexible labour markets - as a reason for capital flowing out of Europe to America, depressing the euro in the process. Wim Duisenberg, president of the European Central Bank, called on Germany to do more to end "structural rigidities" during a visit to Berlin last week. Chancellor Gerhard Schröder and Mr Eichel said they are reforming already. In July, they forced through the biggest package of tax cuts in German history. Changes to the notoriously costly German pension system are in the pipeline. telegraph.co.uk