Word: euroland
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...pocket than euros in your unemployment check," said one billboard erected by the no campaigners. Persson's main argument is economic: join the euro now and trade will increase with the rest of the euro zone, interest rates will drop from the current 2.75% to the 2% level in Euroland and investment in the country will increase. Sounds good - until you notice that the economies of the three E.U. members outside the euro - Britain, Denmark and Sweden - are actually doing much better than the 12 countries that have already adopted the euro. Economic growth in Sweden is expected...
...average couch potato about the slumping euro, and you'll probably hear all about Svetlana Khorkina's early mistrials on the uneven bars in Sydney. Far more meaningful, though, are the mistrials of the virtual currency that much of Euroland adopted in 1999 to simplify trade and build economic muscle. A spendable euro won't be in print before 2002. Until then, it's a calculation that 11 nations peg their currencies to, and so far it hasn't worked well for Europeans. Underscoring the trouble: Denmark last week elected not to join the Euro union...
...circles that the dollar may be at its peak and poised for at least a slight decline. While the Federal Reserve is trying hard to slow the U.S. economy, growth is picking up in other parts of the world. Output is forecast to rise about 3% this year in "Euroland" (the 11 nations that use the euro as a trading currency). Japan is crawling out of recession, and though growth there is feeble, it has still been enough to hold the yen steady against the dollar. Europeans point out too that there are growing opportunities for high-tech investment...
...buttressed by rising interest rates, has been beating up the other currencies in the playground all spring. To keep their own currency up, the Europeans especially have felt pressure to hike their own rates along with Greenspan, thus endangering the nice little expansion they've got going over in euroland. Now everybody from Wall Street to Wittenberg figures they can relax a little, because Uncle Alan has maybe one more hike in him -- a quarter-point at the end of June -- before he settles in to watch Campaign 2000 on TV. His job, after all, is safe for another three...
...currency's effect on the UnitedStates, it's anyone's guess. Euroland's 292million inhabitants outnumber America's 268million, and the 11-member block produces 18.8percent of the world's exports, compared with the14.1 percent produced...