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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Bill Jackson who wrote (18817)	9/14/1998 10:23:00 PM
From: banco$	Read Replies (1) \| Respond to of 116753

Re: what must be sold to satisfy the EMU deal Prospective EMU members were judged based upon economic performance in 1997. That is why so much selling took place last year; EMU participants were not permitted to sell their gold after 1997 to balance books, so there is no further need to sell reserves as related to this phase of EMU. I am not aware of any exceptions or extensions to the above. Smaller prospective states not included in the initial phase of EMU may sell gold reserves in order to meet criteria as some future date. I have also heard France's intention to hold gold reserves constant. Germany was adamantly opposed to potential IMF gold sales back in 1996, let alone its own reserves. Many Germans are reluctant to give up or weaken the mark, a symbol of stability; they will obviously have great concerns over the stability of its replacement -- the euro. Regards