Chances of the single currency dream crumbling: about 40%

Article Abstract:

Some analysts argue that planned European monetary union is likely to result in a soft currency due to the way fiscal policies have been used. This view has been used to explain why pound sterling is strong in relation to the German mark. Yet German interest rates are also forecast to rise, which means that the pound could drop in relation to the German mark. The new European central bank is also likely to hold interest rates high, and there will be uncertainty about how currencies should be priced. There are also uncertainties relating to monetary union itself, including whether it will take place and whether a delay will occur.

Prices and rates, Economic policy, Pound (United Kingdom), European Union, Western Europe, Monetary unions, Mark (Germany)

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Secret lives of the new moralisers

Article Abstract:

Politicians and other public figures frequently emphasise the importance of family life and of participating in the local community. However, further investigation can establish that these people in fact do not put this into practice. A recent poll shows that public figures tend to spend little time during the week with their children, and that the time they spend regularly with other family members is limited. Most politicians see political activities as a service to the local community.

Behavior, Politicians

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Internet's tangled money Web worries central banks

Article Abstract:

European central banks are concerned about the activities of banks which operate on the Internet, mainly because it is difficult to monitor operations. The Deutsche Bundesbank fears that as cyberbanks are not forced to follow the standards of normal banks they might not have sufficient reserves. This would mean that an electronic supply of money could develop without central banks being aware of what is occurring, and bankruptcies could take place if imprudent loans were made.

Finance, Internet

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