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Research guide to European Monetary Union The euro’s launch date is drawing nearer. As shown, not least of all, by the striking convergence of interest rates, the financial markets are still expecting that Emu will be established, as scheduled, on January 1 1999, but it is getting increasingly difficult, even for Germany, to fulfil the Maastricht criteria. Assuming that the euro will get off the ground, it is likely to become a serious competitor to the dollar, the world’s leading trading, reserve and investment currency. |
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