Could the single currency ever break apart?

Article Abstract:

Some observers believe that there could be a number of serious dangers associated with European economic and monetary union (Emu), even though it is now certain to go ahead. It is unlikely that, as some people fear, speculators will disrupt the launch process in 1998, but developments during the interim period between 1999 and 2002 are more difficult to predict. It seems most improbable that any country would choose to leave Emu after 2002, as this would involve introducing and then devaluing a new national currency.

Economic aspects

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Don't take risks on EMU, Mr Blair

Article Abstract:

UK Prime Minister Tony Blair retains a high degree of flexibility in relation to membership of European monetary union (EMU), even though some observers believe that he has become more positive about EMU. He is not prepared to take any risks on this issue, and will not call a referendum until it is clear that public opinion is more strongly in favour of EMU. Maintaining a flexible approach to EMU also gives the Labour government the advantage of maximizing the potential for conflict within the Conservative party.

United Kingdom, International economic relations, Political activity, International aspects, Blair, Tony

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Leverage and the lender of last resort

Article Abstract:

Central banks are generally unwilling to exercise their role as the lender of last resort, feeling that private entities should bear the consequences of their own lack of judgement. However, there is now a danger that if central banks fail to take action where will be significant damage to innocent players in the wider economy. Investors are now swapping financial assets for cash, as this is the only way for debts to be repaid. As a result, asset prices will fall, regardless of so-called economic fundamentals.

Management, Central banks

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