French demands would not mean a weaker euro
Article Abstract:
Many of the views currently being expressed in the debate about whether the future European single currency will be weak or strong are misguided. It is generally assumed that Germany's approach to economic management will bring a strong euro, while that of France will bring a weak euro. In fact, Germany has been very keen to devalue its currency in the foreign exchange markets, and it is clear that Germany is strongly committed to the euro because it wants a weak currency, not a strong one. The changes to the Stability Pact being requested by France will not weaken the euro.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Fetish figure that threatens the single currency
Article Abstract:
The implementation of European monetary union in 1999 could be in danger if politicians continue to stick to a very rigid interpretation of the Maastricht budget criterion. German Finance Minister Theo Waigel, for example, wanted to take the budget deficit limit of 3% of GDP or under completely literally, and also decided that it should apply to the 1997 calendar year, a condition which does not appear in the Maastricht treaty. France and Germany should now admit that exceeding the 3% limit does not necessarily mean that a country has an unsustainable budget position.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Germany's ploy to keep Italy out now threatens the EMU project
Article Abstract:
Germany is taking a tough line on the criteria for budget deficits set down in the Maastricht Treaty. In particular, it believes that only countries with a budget deficit of 3% of GDP or less should be allowed to participate in European monetary union. This goes against the original intention of the treaty, which was that this condition should be interpreted flexibly. Germany's approach seems to be designed to prevent Italy from participating in the single currency from its outset in 1999.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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