europhoria

Jim heartfield jim at heartfield.demon.co.uk
Tue Jan 5 03:42:43 PST 1999


In message <v0401170bb2b6e4dfbb15@[166.84.250.86]>, Doug Henwood <dhenwood at panix.com> writes
>I'm kind of out of touch down here in Appalachia, but it seems the euro has
>had a remarkable debut, with continental stock markets up about 5% and the
>currency strong against the US$. What it's all mean? Any thoughts, esp from
>you folks over there in Euroland?

Like Chris says, England doesn't count as Euroland.

The coverage here is all wistful regret at being excluded from the feast. Much as the press would like to say that it is a flop, they have had nothing to make that point with. News reports mostly involve reporters going out and trying to open a bank account in Euros and see what they can pay in Eurocheques (the answer most things except untility bills).

My brother in Paris tells me that the French are well pleased at the cunning way that they have turned their worthless Francs into healthy marks.

One argument made in the financial pages here is that the overpowerful German mark has been restrained by its substitution with the Euro. This seems like wishful thinking from the second division. Any thoughts?

-- Jim heartfield



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