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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Bill F. who wrote (52543)	3/19/1999 2:37:00 AM
From: NW Bronco Fan	Read Replies (2) \| Respond to of 132070

Bill, I thought you might get a kick out of this. Message 8402689

To: Bill F. who wrote (52543)	3/19/1999 3:32:00 AM
From: Kailash	Respond to of 132070

The euro and the EU Commission - People on this side of the Atlantic tend to make an automatic connection between the fate of the euro and the recent collective resignation of the EU commission. In fact, the two have little to do with each other, as the Economist points out: "As the maturing of the European idea makes more Europeans look at the relationship between national politics and European politics, so national governments are taking over the lead role in EU policymaking. No longer can the commission plausibly claim the last word on what is right or wrong for “Europe”. The commission has, notably, played only a small and timid part in the most heated of Europe's new economic debates, on tax harmonisation. Management of the new European single currency has been entrusted to a new European Central Bank in Frankfurt, where the commission has no influence whatsoever. Indeed, one useful result of the past week's turmoil has been to underline the value of the central bank's independence. When the commission resigned, the foreign-exchange markets scarcely flinched." economist.com Kailash