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To: Anthony Wong who wrote (2552)	6/8/1998 9:37:00 PM
From: shoe	Read Replies (2) \| Respond to of 11568

I suspect that the EU has the right to approve or disapprove the MCI/Worlcom merger based on the GATT Treaty that Congress and Clinton approved a couple of years ago. Unbelievably, we (they) signed away some of our country's sovereign rights to manage our domestic economic and financial affairs. So now, if the EU believes that a merger of two US companies would create unfair competition in Europe, it can scotch the deal! Unfortunately, European governments and agencies have long been more socialistic and overly regulatory than our U.S. counterparts--hence the high unemployment levels of Europeans countries. Recall that earlier this year the EU intruded itself into the Boeing-McDonnell Douglas merger. (As you know, Airbus Industries is highly subsidized by its European government partners [France, Britain, et. al.].) Now the EU is mucking up the MCI/Worldcomm deal. Get used to more of this behavior in the future until we do something about it. Write your Congressional representatives and demand that our government extricate itself from European regulatory oversight. Doubtless, MCI/Worldcomm will be doing business in Europe, and European governments have the sovereign right to restrict access to their markets. But, they certainly should have no veto power over the merger itself!! P. Metz