| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Plugging the euro: doubts over the
project may be
put to rest when notes and coins circulate |
The introduction of euro notes and coins on January 1 marks
the point of no return for the bold European single currency
project. There's no way to untangle the monetary knot once the old
currencies have been destroyed. That alone means the event will be
of huge symbolic importance.
China has recently bought euros for its vast reserves. And the
prevailing view is that the euro's external value may about to
undergo a modest rise, reversing the gentle downward drift prompted
by a concern that something serious is bound to go wrong when
Deutschmarks, francs and other national currencies are finally
scrapped. At last, the materialization of the currency will wash
away worries about its durability and boost flagging popular
support for it, say the optimists, who count among their number
some of the eurozone's central bankers. ...
