Date: Fri, 12 Dec 1997 21:18:31 -0500 (EST)
From: "Liam R.Flynn" <trinity-AT-hot-shot.com>
Subject: M-G: UNION ?





> 12/12/97 08:53
> 
> Milton Friedman calls euro "a mistake for Europe"
> 
> VIENNA. Europe should create a political union before launching monetary
 union with a single currency that is a mistake, US Noble Prize winning
economist Milton Friedman said in an interview published Friday by the
Vienna daily Die Presse. He said "I think the euro is a mistake for
Europe. Europe needs political union before creating a monetary union".
The founder of monetarism said the drawbacks of monetary union are
greater than its advantages, and "the euro will not survive its creation
 for very long." In speaking of the board of governors of the future
European Central Bank, Friedman said he anticipates some major conflicts,
 especially in connection with the future monetary policy.{UPI}         




                                                      Liam R.Flynn
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