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Non-Tech : The US Dollar vs the Euro and a discussion over exchange rat -- Ignore unavailable to you. Want to Upgrade?

To: cbzcouse who wrote (46)	6/18/2005 5:05:42 AM
From: nigel bates	Read Replies (1) \| Respond to of 57

After, I think, but it was pretty clear which way things were going well before the close. The budget itself is something of a side issue: after all, it's only around 1% of Europe's GDP, and there's still a year to work things out. The real issue is that the seemingly inexorable progress of European 'integration' has been halted (for now). For the first time, the political implications of 'ever closer union' seem to be sinking in, and large parts of the European electorates aren't keen (including me <g>). A European federation of nation states doesn't really need a single currency. Indeed, as Italy is in the process of demonstrating, it's very difficult for diverse economies to operate under a single interest rate and exchange rate. I have no idea how it's going to pan out, but it will be interesting.