June 2002 Vol.5, No. 5 Contents The West Is Fighting for Its Survival by Melvin Rhodes Restoration: We Hold These Truths... by Darris McNeely What Do You Know--and What Will You Do? by Darris McNeely Palestine/Israel--Whose Land Is It, Really? by Cecil E. Maranville  Book Review: Statecraft by Margaret Thatcher by John Ross Schroeder  In Brief...World News Review by Darris McNeely, John Ross Schroeder and Jim Tuck This Is the Way...Making Sense in a Senseless Neighborhood by Robin Webber June '02 Main In Brief...World News Review The Euro, the Dollar and the Pound In late May a series of upbeat economic reports showed that the European economy is gaining strength, and helped lift the euro to a 14-month high against the dollar. On May 29 the euro stood at 93.5 cents compared to the dollar, a significant rise. Many investors are showing confidence in the euro during this sustained period of success against the dollar. Meanwhile Britain's Prime Minister Tony Blair continues to edge Britain toward a fateful union with the Continent by pushing his desire to adopt the euro as the coin of the realm. While polls are showing Britons remain skeptical (a recent poll showed 53 percent were against adoption of the euro), it is clear some leaders see Britain's future to be with Europe rather than America. In a new book that has drawn widespread attention in England, Will Hutton, former editor of The Observer, argues that Britain shares the liberal social values of Continental Europe and should join its currency to form a bulwark against a hegemonic United States whose driving political force is the religious conservatism of the South. "The rise of American conservatism has disconnected U.S. civilization from the European mainstream," Hutton argues. "Europe is our continent. We share the same history and the same core values. We should, of course, join the euro." On the other side, some hard-line Conservatives--among them the former prime minister, Margaret Thatcher--disdain the Continent's comparatively sluggish economies and rigid labor markets with a collective "no, thank you." Instead, they argue that Britain should renegotiate its membership in the European Union, cast its lot with the United States and join the North American Free Trade Agreement (International Herald Tribune, May 27, 2002). Read the full article at www.wnponline.org/wnp/wnp0206/inbrief0206.htm Related Information on UCG Sites: Table of Contents that includes "World News Review Jun 2002" Pakistan: _The India/Pakistan Weapons Conundrum _World News Review June 1999 _India and Pakistan at War Again _World News Review August 1999 _World News Review Jul 2002 _Bhutto Assassination Imperils Pakistan's Stability -- and Global Nuclear Security _Staying Alert in a Dangerous World: India and Pakistan _World News and Trends - September/October 2006 _Pakistan: A Nuclear-Armed Power Walks a Tightrope _World News & Trends Jan 2009 India: _World News Review July 1999 _Why Is Everyone Courting India? _Quake in Gujarat- Foretaste of the Future? _A Downsized Lifestyle Is Coming - Will You Make the Adjustment? _World News Review July 2005 _Where Are China and India Really Headed? _International Power Shifts Threaten the Western World _World News and Trends - Nov/Dec 2005 _World News & Trends - November/December 2008 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? _Book Review-Euro Crash 2007 _Europe's New Money _What Others Are Saying About the Euro _Europe at the Crossroads-What Does It Mean? _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