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To: MythMan who wrote (108056)	6/11/2001 1:03:32 PM
From: John Pitera	Respond to of 436258

Yes, the Mighty Kingbuck moves forward, the sterling weakness is helping out, as is the renewed selling in Yen. With the Euro it seems a hope of a double bottom with the fall lows is the most bullish thing potentially out there. The European Commission is possibly going to implement very cumbersome legislation where companies have to inform and consult with employees on corporate Planning and decision making. That's make it harder to lay off people, or possibly even change production quantities and mixes on a timely basis. Heinz can tell you about the layers of Bureaucratic Red Tape that exist in Germany , France etc, and this is one important reason that more innovation has come from the US and other more entrepreneurial economies From Briefing today.......... European Commission is on the verge of implementing EU-wide legislation that would force employers to inform and consult with employees on issues of corporate planning and decision-making. The directive is expected to be applied to companies with 50 or more employees and necessitates that employers must disseminate regular information to workers on the "probable development of the company's activities and its economic and financial situation," while also consulting with them on their employment prospects. While still a long shot, there is even the chance that the legislation could include stiff penalties for companies that breach law, including the freezing any layoffs that come without employee consultation. As far as we are concerned, this has to be considered a hindrance to the euro given the fact that it will likely make it more expensive for corporations to work off excess capacity.