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Steps Taken to Keep Plan for Euro Afloat

World IN BRIEF : GERMANY

June 12, 1997|From Times Wire Reports

In a bid to save Europe's plan for a single currency, the German government agreed in principle to French demands for a new pact on fighting soaring unemployment. Germany's concession--after years of resisting a European Union employment pact--could be decisive in keeping France's new Socialist-led government among those who support the single currency when EU leaders meet in Amsterdam next week. France has said it wants to go ahead with the currency, to be launched Jan. 1, 1999, but has demanded more emphasis on promoting jobs and growth. Foreign Minister Klaus Kinkel denied reports that Germany would seek a delay in the currency, known as the euro, saying that to do so would be a disaster for Europe's economy.

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