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To: Mark Fowler who wrote (127326)	6/27/2001 2:55:23 PM
From: craig crawford	Respond to of 164684

Wednesday June 27 2:39 PM ET Treasury Chief Hits at Europe Over GE Deal dailynews.yahoo.com DETROIT (Reuters) - Treasury Secretary Paul O'Neill said on Wednesday it would be ``off the wall'' for European Commission (news - web sites) to block General Electric Co.'s(NYSE:GE - news) bid to buy Honeywell International Inc.(NYSE:HON - news) In an appearance at the Economic Club of Detroit, O'Neill said the European regulators are ``not elected, they're not subject to judicial review.'' ``They are the closest thing you can find to an autocratic organization that can successfully impose their will on things that one would think are outside their scope of attention,'' O'Neill said in response to a question after giving a speech on international finance issues. The comments are the latest in a drumbeat of public statements over the last two weeks from U.S. officials, including President Bush (news - web sites) and U.S. Trade Representative Robert Zoellick, expressing concern over the European stance against the merger. On Monday a European Union (news - web sites) advisory committee voted in support of EC staff objections to the deal. A final European Commission vote on the purchase is scheduled for July 3.