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BUSINESS
April 6, 1995 | Times Staff and Wire Reports
EMI Warns About Unemployment, Says Growth Outlook Good: Economic growth prospects for 1995 in the European Union are bright, but wage restraint is needed to keep inflation in check, according to the European Monetary Institute. It also tempered the optimism of its annual report by warning of high unemployment, governmental fiscal deficits and high levels of public debt.
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BUSINESS
April 6, 1995 | Times Staff and Wire Reports
EMI Warns About Unemployment, Says Growth Outlook Good: Economic growth prospects for 1995 in the European Union are bright, but wage restraint is needed to keep inflation in check, according to the European Monetary Institute. It also tempered the optimism of its annual report by warning of high unemployment, governmental fiscal deficits and high levels of public debt.
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BUSINESS
December 2, 1991 | From Associated Press
Resolving a nagging question, European Community finance ministers agreed Sunday to allow Great Britain to put off until later in the decade a decision whether to adopt a common EC currency. But they rejected proposals to give all EC nations that option under an economic and monetary union treaty to be approved by EC leaders next week. "It is clear there will be no general exemption clause," Danish Economics Minister Anders Fogh Rasmussen told reporters.
NEWS
October 30, 1993 | TYLER MARSHALL, TIMES STAFF WRITER
Twelve European Community leaders on Friday celebrated completion of an accord that aims to bind their countries in a political and economic union, then took the first concrete steps required to implement the far-reaching document. The Maastricht Treaty, which calls for economic and political union by the end of the decade, takes effect Monday.
BUSINESS
February 28, 1998 | From Reuters
Europe's most ambitious project to date, its planned single currency, passed its day of reckoning Friday with virtual confirmation that the European Monetary Union will start with 11 member states. Germany, Italy and France, EMU's three big guns, met a Friday deadline by announcing 1997 budget deficits that were not only low enough to qualify them for the union but that also beat even the most optimistic forecasts.
BUSINESS
May 2, 1998 | From Reuters
European Union ministers voiced guarded optimism Friday that a deal on naming the first head of the European Central Bank would be reached at a weekend summit, averting a clash at the birth of a single European currency.
CALIFORNIA | LOCAL
August 1, 2005 | From Times Wire Reports
Wim Duisenberg, the former European Central Bank chief who helped establish the euro currency, was found dead Sunday in his swimming pool in southeastern France, officials said. He was 70. He was found at his home in the town of Faucon and could not be resuscitated, police said. An autopsy showed that Duisenberg had "died a natural death, due to drowning, after a cardiac problem," said Jean-Francois Sanpieri, a state prosecutor in the nearby town of Carpentras. He did not give other details.
NEWS
May 3, 1998 | From Times Wire Services
A 62-year-old Dutch central banker with a fondness for light music and tight monetary policies is the new Alan Greenspan of Europe. Wim Duisenberg was chosen by European Union leaders at a Brussels summit to head the European Central Bank, which will dictate monetary policy and set a single interest rate for the 290 million people from Portugal to Finland who will start using the EU common currency, the euro, on Jan. 1. He almost was just another Dutchman who lost the big prize.
NEWS
July 24, 1993 | WILLIAM TUOHY, TIMES STAFF WRITER
Prime Minister John Major won a dramatic vote of confidence in Parliament on Friday after rebels in his own Conservative Party, cowed by his threat to call a general election, approved the controversial Maastricht Treaty on European union. Major carried the confidence vote in the House of Commons by 339 to 299, a comfortable margin of 40 votes, ending the ratification process for the treaty, which already had been endorsed by Britain's 11 fellow nations in the European Community.
TRAVEL
April 26, 1998 | CHRISTOPHER REYNOLDS, TIMES TRAVEL WRITER
If you've lost track of how the dollar has been doing against European currencies lately, you're excused. Through winter and spring, the financial world has been focused on Asian economic crises and the opportunities they have afforded canny foreigners with dollars. Meanwhile, most of Europe has quietly moved along, neither as troubled as Asian nor as boom-giddy as the U.S. But there's ample reason to pay attention, all the same.
BUSINESS
December 29, 2008 | ASSOCIATED PRESS
Ten years ago, Europe launched its grand experiment with a shared currency -- and watched it plunge in value before recovering. But as the anniversary of the Jan. 1, 1999, arrival of the euro approaches, economists say the new currency is finally fulfilling its promise as a way to lower borrowing costs, ease trade and tourism, boost growth and strengthen the European community. And doing it amid a global financial crisis underlines, for the moment, the safety in numbers that comes from joining one, big currency.
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