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Article: Britain hedges on the Euro as E-Day arrives.(Dec. 31, 1998; new European currency)
- Article from:
- The New Leader
- Article date:
- August 10, 1998
- Author:
CopyrightCOPYRIGHT 1998 American Labor Conference on International Affairs. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON
THE COUNTDOWN has started on this side of the Atlantic. It is not of shopping days till Christmas, though here, as in the United States, that begins ever earlier each year. No, this countdown is to the stroke of midnight on December 31, 1998. That is when the euro, the new European currency, becomes legal tender throughout most of Western Europe.
It will be the most significant event in the process of European integration since the European Economic Community was created 40 years ago. From January 1, 1999, the euro will serve alongside the national currencies of 11 of the 15 European Union (EU) nations that have opted to become part of the ...