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To: Zeev Hed who wrote (105128)	5/28/2001 12:02:22 AM
From: LLCF	Read Replies (1) \| Respond to of 436258

Zeev... currencies have been used without regard to political sovernty since the beginning of time... witness the U.S. dollar or DM [eastern europe] today. I think you may actually thinking backwards in this case. <I do not see individual countries yielding their national independence to a "European Government" any time soon, and without such a Union, fiscal policies (national) and monetary policies (Pan European) are bound to clash. We'll see that as soon as Europe enters a major economic slow down. > Yes there will be feuding over monitary policy... fiscal policy will go on their merry ways with the new constraints. One has to realize that for most of the new users of the soon to be created Euro's it's simply a switch from the DM of BP anyway... the lesser countries have given up nothing, why Germany agreed is beyond me, they are the potential losers. However as I posted before, this will be an absolute walk in the park compared to what happend when the German Union took place. The Germans will grin and bear it IMO. dAK

To: Zeev Hed who wrote (105128)	5/28/2001 6:52:30 AM
From: Box-By-The-Riviera™	Respond to of 436258

the guy is also wrong about the exchange time.... exchanging the old notes for new has a limit within daily use... in stores for example.... but there is no limit when exchanging old for new at a bank... of course.... he's very correct about the other implications that has for grey money.....

To: Zeev Hed who wrote (105128)	5/28/2001 6:54:24 AM
From: Box-By-The-Riviera™	Respond to of 436258

unless they decide to back it...vs. fiat and currency relativism.... then policy matters less vs. supported value.....policy matters less re: interest rate manipulation vs. supported value....