Germany welcomes euro

[Chris Burford <cburford@xxxxxxxxxx>]

According to the German polling organisation, Emnid, the popularity of the
euro has leapt up with its introduction in Germany.

Last quarter last year only 33% thought it right to introduce the euro.
This month 65% support the decision.

Three quarters believe that the intoduction of the euro will also lead to
close political union.

This is an interesting lesson in guided democracy, since a referendum in
Germany at any time up to this month might well have derailed the euro
project. But the interests of large capital prevailed, and once achieved
the mass of the people see the advantages of a large market and a large state.

This is a turning point in the development of post war Germany, which had
put its faith in the strong DMark. The aim since Bismarck, of placing
Germany at the centre of a stable Europe, at last nears achievement
ironically as Germany loses its own currency.

The fact that the euro has performed weekly against the dollar in the last
year has apparently not weighed against its popularity. In fact it may be
seen as helpful for the attempts at getting the German economy growing again.

Chris Burford

London