Emu: Jeux sans frontières

If the EU's single currency begins on schedule in 1999, further breaking down national boundaries, France's capital markets will be a major contender for a central role, squaring up to Germany in the fight for benchmark status. And what if Emu is postponed? Katrin Fhima reports.

The gloves are coming off in what is proving quite a fight for the 1999 heavyweight title of “Benchmark for Euro”. That, though, is just one concern for France ­ though probably the main one. The French capital market is also exercised by Emu’s effects on its fundamental structure and product innovation strategy.

As far as the benchmark title fight is concerned, France and Germany, the other main contender, have been sizing each other up for almost a decade.

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