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Greek EMU Entry Set for 2001

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BRUSSELS, Belgium (7 June 2000)–If EU finance ministers get their way, Greece will become the 12th member of the European Monetary Union (EMU) on 1 January 2001. The southern European country’s bid will most likely be endorsed at the upcoming EU summit on 19-20 June in Portugal. Unlike the case two years ago, Greece now […]

BRUSSELS, Belgium (7 June 2000)–If EU finance ministers get their way, Greece will become the 12th member of the European Monetary Union (EMU) on 1 January 2001. The southern European country’s bid will most likely be endorsed at the upcoming EU summit on 19-20 June in Portugal.
Unlike the case two years ago, Greece now meets all the membership terms of euro club. The European Central Bank has already endorsed the country’s membership.
The UK, Sweden and Denmark are the three remaining European Union member states that are not participating in the EMU. Denmark will hold a referendum this September, and while both Sweden and the UK have referendums of their own planned, the dates have yet to be set.
Equally uncertain is the fate of the euro itself. Despite recovery as of late, it has lost 20% of its value since being launched in 1999. However, those whose financial fate lies in the euro’s hands–Bike Europe editors, for example, among others–remain very optimistic. (JW)

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