In Brief

Euro to Spark Political Integration

Posted on Mar 1, 1999 by Darris McNeely, David Palmer, John Ross Schroeder, Phil Schafer Estimated reading time: 1 minute

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FRANKFURT: (Internet/Reuters) - The president of Germany's Bundesbank, Hans Tietmeyer, has said that the introduction of Europe's new single currency, the euro, should be accompanied by more political unity. Tietmeyer wants a "higher degree" of political cooperation.

Eleven of the 15 members of the European Union merged their currencies on January 1, forming a close Economic and Monetary Union (EMU). Mr. Tietmeyer, one of Europe's most influential central bankers, now says that EMU has to be accompanied by a "high degree of political unity at a European level." Speaking on German radio he warned that "if everyone goes their separate ways, that could lead to conflicts with what will be a supranational monetary policy."

He warned that the launch of the euro would intensify the competition between the economies in the eurozone. Until recently, countries with high unemployment were able to increase their competitiveness through currency devaluation. EMU will make that impossible. Mr. Tietmeyer's conclusion is that high unemployment can only be tackled through closer political cooperation.

Darris McNeely
Beyond Today Presenter
Darris McNeely works at the United Church of God home office in Cincinnati, Ohio. He and his wife, Debbie, have served in the ministry for more than 43 years. They have two sons, who are both married, and four grandchildren. Darris is the Associate Media Producer for the Church. He also is a resident faculty member at the Ambassador Bible Center teaching Acts, Fundamentals of Belief and World News and Prophecy. He enjoys hunting, travel and reading and spending time with his grandchildren.
David Palmer
Born in Saskatchewan Canada, David Palmer was first introduced to the radio broadcast of the World Tomorrow during his career in broadcasting, when the program was aired during his on air shift. In 1965 his radio career took him to Vancouver British Columbia, where he was eventually baptized, and began attending Sabbath services. He was ordained to the ministry in 1983. Now retired from broadcasting David currently pastors congregations in Vancouver, and Vancouver Island.
John Ross Schroeder
(1937-2014)
John died on March 8, 2014, in Oxford, England, four days after suffering cardiac arrest while returning home from a press event in London. John was 77 and still going strong.
Phil Schafer
No Bio Info Available