January 2001 Vol.4, No. 1

Contents European Union: An Idea Whose Time Has Come    by Melvin Rhodes The Best Government In Existence?    by Cecil Maranville Book Review: Euro Crash 2007    by Cecil Maranville Chaotic Start to a New Century: What's It Mean?    by John Ross Schroeder In Brief...World News Review    by Cecil E. Maranville This is the Way...The Power Of Chad    by Robin Webber Book review: Euro Crash 2007 What happens if Europe doesb't gett the euro in gear? German economist Bruno Hollnagel pens a scary scenario in his book Euro Crash 2007 - The Countdown Has Started. by Paul Kieffer It is early October in the year 2007, the month when stock markets are known to be jittery. Some early rumblings are felt when, on the second Friday of the month, after-hours trading on European exchanges begins to reflect the late news release in New York of the European Union's new budgetary figures for the year 2008. When late night computer trading ends, European stock indexes are down an average of 8.6 percent, to be following by a further 9 percent drop when normal trading reopens the following Monday. European financial markets are shocked by the rumor at 11:30 a.m. on the same morning that the president of the European Central Bank has been assassinated in Frankfurt, apparently by a private stock market trader who has been ruined by recent developments in Europe's currency and stock markets. For European stock markets the news means that there is only one possible direction for share prices: down, and fast at that. Is this the horror vision of some frustrated séance medium? Not at all. Bruno Hollnagel, a German financial commentator holding a degree in economics, has penned a novel entitled Euro Crash 2007-Der Countdown läuft (Euro Crash 2007-The Countdown Has Started), in which he outlines his scenario for the future demise of the euro. Some aspects of his vision, interestingly enough, are not entirely discounted by other observers. Hollnagel's decision to write his book was prompted by his irritation over what he considered to be the positive bias in reporting on the treaty of Maastricht, which provided the basis for the European Monetary Union, i.e., the euro. Hollnagel has carefully analyzed that treaty, and his novel reflects what he believes to be the major weaknesses of the impending monetary union. He projects in step-by-step manner a coming great depression in Europe, which has its origins in the prerequisites for participation in the euro, including limits on the national rate of inflation and deficit spending required of all participating countries. In Hollnagel's opinion, those goals can only be met by bookkeeping shenanigans, a view shared by a number of respected politicians and economists in Germany. Read the full article at www.wnponline.org/wnp/wnp0101/crash.htm Related Information on UCG Sites: Table of Contents that includes "Book Review-Euro Crash 2007" Other Articles by Paul Kieffer European Union - Euro: _World News Review December 1998 _Oskar Lafontaine _The Euro-Implications for England and America _The Euro Is Here! _World News Review March 1999 _Just What Is Happening in Europe? _Europe's New Money _What Others Are Saying About the Euro _Europe at the Crossroads-What Does It Mean? _World News Review Jun 2002 _How Soon Will Britain Embrace the Euro? _The Battle of the Giants -- Who Will Win? _Is America in Financial Decline? _Germany's Rising Economic and Political Power _The Euro Celebrates Its 10th Birthday _An Overview of Conditions Around the World - Jul/Aug 1998 _The Euro and War _The Euro: Crucial Step for a Future Superpower? _An Overview of Conditions Around the World - Jan/Feb 2002 Search Our Site Key Subjects Index General Topics Index Biblical References Index Good News Magazine Index Booklets and All Literature Index Home Page of this site