A EUROMONEY SURVEY – MARCH 1996
“If you look at German newspapers,” says Tim von Halle, managing director of fixed-income sales and trading at West Merchant Bank (the investment banking arm of Westdeutsche Landesbank), “it is clear that at least 60% of Germans don’t believe European economic and monetary union (EMU) will happen by 1999.”
Analysts and investors increasingly appear to agree, galvanized by German finance minister Theo Waigel’s recent admission that even Germany is behind schedule in meeting the Maastricht currency-convergence criteria.
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