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Article: Baltics, Slovenia may lure investment on euro link
- Article from:
- China Daily
- Article date:
- June 30, 2004
- Author:
CopyrightCopyright 2004 China Daily. Provided by ProQuest LLC. (Hide copyright information)
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Estonia, Lithuania and Slovenia may attract more foreign direct
investment after becoming the first Eastern European nations to
establish formal links with the euro, said fund managers.
The three nations, with 6.7 million people and a combined economy
of US$55 billion, joined the European Union's exchange-rate mechanism
on Sunday, agreeing that their currencies will trade at an agreed
rate against the euro and paving the way for them to switch to the
common currency as early as 2007.
"Entry to the exchange-rate mechanism should trigger some
investments that countries of this size otherwise wouldn't get," said
J.P. Morgan Fleming analyst Mark Robinson, who manages US$1.6 billion
of Eastern ...