Dennis R Redmond wrote:
>There
> probably will be a tomorrow for this world-system, but it'll be
> transacted in euros.
Living in the shadow of the dollar
Mark Milner, deputy financial editor The Guardian
Thursday April 27, 2000
How low can the euro go? ... Today the currency slumped to fresh lows on the
foreign exchanges despite a rise in interest rates by the ECB.
Since its launch at the beginning of last year the euro has lost a fifth of
its value against the dollar and a similar amount against the Japanese yen -
the heavy weights of the global currency markets which the euro was meant to
rival.
When it was launched the euro bought $1.16. Parity - where one euro bought
one dollar - was deemed unthinkable. Today, however, one euro is worth just
over 91 cents.
.....
The problem for the euro is that throughout its life there has been a very
attractive something else - the dollar. ........
Mark Jones
http://www.egroups.com/group/CrashList
