Word: europeanize
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Dates: during 1990-1999
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Wake up and smell the espresso, America. There's a revolution brewing in Europe, and it could hit you right where it counts: in the pocketbook. On Jan. 1, the currencies of 11 European Union countries will be officially replaced by a central monetary unit called the euro. It will take three years for the old deutsche mark, franc and lira coins and bank notes to disappear, but in less than two months their values will be pegged to that of the euro. And savvy U.S. investors are moving to take advantage of investment opportunities offered by the new currency...
...Street. Meanwhile, greater ease of movement for factories and goods will force euro-zone companies to become more competitive and attractive to investors. And with the euro, American businesses and travelers could save as much as 50% of the transaction costs they now pay to convert dollars into multiple European currencies. Says David Bowers, a European investment strategist with Merrill Lynch in London: "This will be the biggest shock to the global financial system since the move away from fixed exchange rates...
Last week, after Iraq announced it would halt U.N. weapons inspections, U.S. officials accelerated plans to dynamite Saddam Hussein into compliance. As the Pentagon refined its strategy, Defense Secretary William Cohen and National Security Adviser Samuel Berger hit the road to sell the plan to Arab and European leaders. While they got a frosty public response, officials say the private message was a tacit green light. Result: President Clinton may decide to hit Iraq without a U.N. vote, something that has bottled up attack plans in the past. The strike could come this week...
...Glee Club's repertoire is especially demanding because it is largely classical, with a selection of folk songs and works from the Renaissance. This year's lineup also contains several Eastern European pieces...
...Greece is bringing itself into alignment with the European Union," he said...