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Sicht aus England LOL:-))

What is our gallant Chancellor going to make of this one? He is already being assailed on all sides by his colleagues in the Cabinet for his intransigence and arrogance, and now his sales of UK gold assets have been fundamentally shafted by Dr Theo Waigel, the former German finance minister who describes himself as"one of the key protagonists in the introduction of European Monetary Union."

The scales appear to have fallen from Herr Waigel's eyes and he has realised that many European citizens have been and still are sceptical towards monetary union. He said this is understandable given the emotional ties towards national currencies and reckons the answer is to mint gold coins and issue them in Europe as legal tender as a means of supporting public confidence in the Euro. And there is Gordon Brown selling off gold and re-investing the money in the euro on the disproved theory that governments can support currencies.. Presumably he has not realised, as Herr Waigel has, that the drop of around 25 per cent in the value of the euro since it was launched has had considerable psychological effects on the confidence of the people who will be required to swap their national currency for the euro in a few months' time.


<ul> ~ www.minesite.com</ul>
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