Farewell to the euro?

George Sassoon sends this quote from Eurofacts, Feb. 28 2003, a newsletter published by June Press, Totnes, Devon, England: Farewell to the euro?. The following forecast in contained in a list of possible surprises for 2003 circulated to its clients by Morgan Stanley, the [London] City stockbrokers: "Starting with France, several countries lose confidence in the European Monetary Union and threaten to pull out. They believe that Germany, once the economic envy of everyone on the continent, is dragging the system down. Sensing a lack of confidence, German Chancellor Gerhard Schroeder resigns. European equity markets badly lag the US and Japan." RH: We shall see if Morgan Stanley is prophetic or whether it is just churning to drum up business.

Ronald Hilton - 3/1/03