From: "Rebecca Peoples" <wellsfargo-AT-tinet.ie>
Subject: M-TH: EMU
Date: Wed, 28 Jan 1998 20:43:16 -0000


Folks,

I have been examining the matter of the European single currency. Ireland is
poised to join it.

There are those that say that joining will entail surrendering the power of
the Irish state to more freely manage economic policy --monetary, interest
rate policies etc. They argue that single currency  that will lead to
declining living standards.

My view is that the conflict between those who are for or against joining up
is an inter-capitalist conflict or fight as to how best serve the interests
of capital. It is not the business of revolutionaries to opt for one or the
other means of "managing" the capitalist economy. It is the business of
revolutionaries to opt for socialism and thereby the abolition of all
currencies --neither one or the other but socialism.

Rebecca



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