EMU chances take on fresh impetus
Saturday 17 January 1998
The spreads between German mark, securities and some of the smaller European currencies have widened slightly, reversing the long-term trend to convergence, but not enough to cause any real concern, and the view of the experts is increasingly that it is too late now to prevent the narrow EMU going ahead and political risky to stop the broad EMU, containing Italy, Spain and Portugal.
Bundesbank officials continue to warn everyone against complacency, but a legal move to have the German courts rule that replacing the mark is unconstitutional is unlikely to succeed and has not had much impact on the markets.
The simmering row between the Dutch and Italians is slightly more serious. But reports that for political reasons the Dutch Finance Minister would oppose Italian membership of the monetary union in the first wave have been played down in the past week.
- 1 Scottish referendum: So how about the English now being given a chance to split from England?
- 2 Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
- 3 Kim Kardashian 'naked pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
- 4 Matthew Miller: American sentenced to hard labour in North Korea 'wanted to be Snowden II'
- 5 Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
Kim Kardashian 'naked pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
Isis in Syria: 60,000 Kurds flee terror in new exodus
Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
4Chan naked photos leak: Celebrity Twitter reactions to the mass breach of privacy
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Archbishop of Canterbury admits doubts about existence of God
Portuguese academic says British are 'filthy, violent and drunk'
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