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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lee who wrote (10070)	2/3/2002 3:57:39 AM
From: Moominoid	Respond to of 19219

The ERM has been in place for a long time thought the UK and Italy got ejected and full monetary union for 2 years already. The pound is strong which is a cause of the manufacturing recession in the UK. Depreciating currencies do wonders for short term economic performance as seen here in Australia. I for one am very happy to be a citizen of the European Union rather than just Britain! Though being a citizen of Australia probably beats both of them :) As for Mexico using the dollar, well, you saw what a happened to Argentina. U can't fix the markets. You'll need free migration through NAFTA and further economic convergence and then it would be a good thing... It didn't make sense for Argentina, at least not at the exchange rtae they adopted. Maybe the Euro isn't a good idea for more than a few core countries but it's there and that alone can have a negative impact on the UK now.