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A european perspective on these comments:
The Euro is expected to have a lowering of prices in the long term, but
this may take years. Many of the price discrepancies are known but still
difficult to avoid. It is easy to understand why cars are a lot more
expensive in Britain (with right hand drive) than the rest of Europe.
The differential over the German Italian border, however, has persisted
for years...
Regarding Y2K, the news trickling out now is that firms that had
considered themselves Y2K compliant are having outside
auditors/consultants check the work and finding lots of flaws...
Regards
DanG
Earl Adamy wrote:
>
> Another interesting piece I've read in past few days, possibly also in
> Barron's. It seems that there is wide variation in branded product pricing
> throughout Europe. The switch to the Euro is expected to more closely
> homogenize pricing throughout Europe with a resulting reduction in prices
> and squeeze on corporate profits in the consumer products industry. I could
> see this favoring further declines in European interest rates and possibly
> some pressure on high European wages.
>
> Regarding the Y2K problem, I expect that the problems in the US will be far
> less spectacular than expected, however I expect the diversion of resources
> to fixing Y2K problems and consequences to be far higher and more lingering
> than expected by most economists - Yardeni excluded.
>
> Earl
>
> -----Original Message-----
> From: swp <swp@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Sunday, November 22, 1998 5:29 PM
> Subject: Re: Bond Prospects
>
> >I think that the economy will eventually slow, but it might not be until
> >later in 1999, maybe on the back of Y2K problems. The Euro will fail.
> >Those guys still have not figured out that they have to spend every last
> >Euro they have to fix their computers for 2000 (what is left anyway
> >after converting for the Euro). So, the Euro, I think, will not be a
> >problem (then again, I never thought they'd get this far, so I could be
> >surprised).
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