-Caveat Lector- Yahoo! Asia - News World Friday, September 29 4:46 AM SGT Denmark rejects euro COPENHAGEN, Sept 28 (AFP) - Denmark rejected the euro Thursday, voting not to join 11 other western European states in the common currency and raising new questions about the pace and scope of Europe's political integration. In a national referendum, Danes balked at scrapping their historic currency, the krone, for the troubled euro, and in the process broadcast a message of concern about ceding local identity and sovereignty to a European superstate. One of the main leaders of the anti-euro campaign, far-right Danish People's Party leader Pia Kjaersgaard, qualified the result as "a victory for Danes' wish to defend democracy, self-determination and the country's sovereignty." About 53 percent of the four million voters who took part in the landmark plebiscite decided against joining the euro zone with around 47 percent in favor of entry, with almost 90 percent of votes counted. The referendum was regarded as a barometer of public confidence in the currency itself and in efforts led by Europe's powerhouses, particularly France and Germany, to consolidate the continent's decision-making processes. The euro, fresh from an unprecedented intervention by the world's top central banks to prop it up, slipped back below the 88-cent mark soon after the outcome of the Danish vote became clear. The European currency has already lost nearly one-third of its value since being launched on January 1, 1999 and analysts agreed that a Danish 'no' vote would apply further downward pressure to the struggling money. The European Central Bank and Group of Seven countries have however pointedly declined to rule out further intervention on money markets to support the euro if it were judged necessary. The message from Denmark was also certain to reverberate well beyond its own borders, with Britain and Sweden -- the only other EU states that have still not joined the euro zone, apart from Greece, which joins in January 2001 -- listening with particular attention. In comments at the outset of Thursday's vote in Denmark, British Prime Minister Tony Blair downplayed the impact it would have on a raging debate within Britain on whether or not to make a stronger commitment to Europe. "Denmark has its own decision. We have our own decision," Blair told BBC radio at the annual conference of the ruling Labour Party in Brighton. The Swedish leader, Prime Minister Goeran Persson, readily admitted that the outcome of the vote in Denmark would have a direct impact on sentiment in Sweden for closer integration with Europe. "It's obvious that the result of the Danish referendum on the euro will have an influence on the domestic debate in Sweden," Persson, one of Sweden's most public cheerleaders for the euro, told state television. Both Britain and Sweden have pledged to consult their citizens on whether or not to join the euro zone, but neither country has yet set a date for doing so. France has vowed that European economic and political integration will go ahead regardless of the outcome of the Danish vote, but cautioned that a rejection could contribute to the development of a "two-speed" Europe. French Prime Minister Lionel Jospin however downplayed the impact of the Danish vote, saying Denmark had little economic weight within the European Union and its rejection of Europe's money was "not a problem." Analysts attributed the Danish rejection of the money to factors ranging from right-wing fear about the dilution of Denmark's national identity to worries that acceptance would cut the country's generous welfare benefits. Rejection of the euro was a stinging defeat for Prime Minister Poul Nyrup Rasmussen, who turned the campaign in favor of the currency into a personal crusade. Rasmussen said last week however he would not step down if the euro were rejected. ## <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. 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