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Re: Re: starship-design: Euro
In a message dated 4/22/98 7:41:24 PM, email@example.com wrote:
>Timothy van der Linden wrote:
>> Nels Lindberg wrote:
>> >The European Union is farthest along this path and in 1999
>> >the "euro" will come online as the official currency of an economy and
>> >population which is larger than the US. Obviously, the euro will
>> >quickly replace the dollar as the world's dominant currency due to its
>> >stability (the Germans will get to run the bank) and size.
>> Ha, if only the Europeans were that convinced. These days virtually all
>> politicians are worried to poll the population about this subject.
>> The latest news about the Euro is that we seem to get an anarchy regarding
>> the president of the European bank. There are 2 candidates, but one France
>> just said it will use its veto for its own candidate. (Their own candidate
>> is the least favourite of the two.)
>> Timothy (citizin of the Economically United Europe)
> In the hindu religion, one of the festivals celebrating the god Krishna
>in the town of Puri consisted of a massive idol on a huge, twenty
>wheeled cart which was drawn through the town at a fairly good clip.
>Krishna devotees who hurled themselves under the cart didn't slow it
>down much. It was called the Jagganath (world-ruler), from which english
>gets the word juggernaut. I hope not to offend you, but from this side
>of the Atlantic the euro looks like a Jagganath, unstoppable. The
>"moment of truth" for monetary integration is so near (252 days until
>banking in euros possible), and it would appear that the only
>alternative to going ahead is delay (which can only go on for so long)
>or backing out altogether. I don't view the second option as viable.
>Respectfully, from the Pacific
> P.S. I heard on the radio the other day that some trading in euros was
>being done. I'm not quite sure if this is the same thing as a
>proto-euro, but the "European Currency Unit," an averaging of european
>currencies, is worth US$ 1.1067 <http://www.xe.net/currency/>
News to me. All the big hype about the united europe goliath faded out years
ago, and I keep hearing concerns that the countries are to xenophobic to
really allow a lot of uniting regardless of the economic costs. Remember
these are countries that are still afraid to let in any imagrent, even at the
major economic impediment that always means, and concern over declining
domestic populations. I've certainly never heard a suggestion that the dollar
is going to be over thrown as "THE" hard currency in the world, or the US as
the prefered investment site in the developed world.
I'm not being egocentric here, its just that the United States is a
functioning, none boarder economy of over 300 millino, and has been runing
underthis unity for about 2 centuries. Its going to take a lot more effort
and time for europe to unite to that degree of functionality.