Word: euros
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Tatjana Breloh was a statistical rarity in Germany: a woman who had climbed to the top of her profession as managing director of Euro RSCG, a Dusseldorf ad agency. But in June 1997, Breloh, now 44, was fired. Her dismissal came a week after she received a $25,000 bonus for good work--and three days after informing the company that she was going to become a mother. "It was simple," she recalls. "I got pregnant, and I got fired...
...toward a single currency in Europe, there's been pressure from institutional investors for a Europe-wide trading system," says Hornik. "Previously, a Dutch pension fund, for example, was legally bound to keep the bulk of its investments in the same currency as its liabilities, i.e., Dutch guilders. The euro made it possible for them to invest across borders, which has been an inefficient and costly process as long as each country maintains its own bourse." The London-Frankfurt merger, which will later include the Spanish and Italian stock exchanges, follows an earlier merger between the Paris, Amsterdam and Brussels...
...Miles are the global currency right now," says Jim Davidovich, who runs United Airlines' frequent-flyer program. "It's not the euro, it's the mile. And it's hot." So hot that Randy Petersen, who began InsideFlyer magazine as a one-man operation in 1986, now has 32 employees and several websites, including Flyertalk.com This is where you go for buzz on the best promotions and the boasts of frequent flyers who make Phillips look bush league. "There's one guy out there with 13 million miles," Petersen says...
...prepare for the hooligans sure to flock to the Euro 2000 soccer match, Brussles authorities are considering turning police garages into prison cells...
...euro, introduced little more than a year ago, has been crucial in accelerating the pace of change. Those who wring their hands over its declining value in 1999 miss the point. "The euro has allowed Europe to almost completely overcome its historical weakness of market fragmentation," says Albert Bressand, economist and director of Paris' Promethee think tank. "It's created a larger, almost seamless economy roughly the size of the U.S. economy." The euro's undervaluation has, in fact, given European exporters a shot in the arm by lowering their prices in overseas markets. Most experts foresee a rise...