In Brief: Euro to Spark Political Integration
Hans Teitmeyer, president of Germany's Bundesbank, warns of political competition among countries using the euro.
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.
An Article from:
World News and Prophecy: March 1999
Course Content
Darris McNeely
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. He is also a member of the UCG-Canada National Council, and serves on the Canadian Ministerial Services Team, as well as the Canadian Media Team
John Ross Schroeder
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.
Some of John's work for The Good News appeared under his byline, but much didn't. He wrote more than a thousand articles over the years, but also wrote the Questions and Answers section of the magazine, compiled our Letters From Our Readers, and wrote many of the items in the Current Events and Trends section. He also contributed greatly to a number of our study guides and Bible Study Course lessons. His writing has touched the lives of literally millions of people over the years.
John traveled widely over the years as an accredited journalist, especially in Europe. His knowledge of European and Middle East history added a great deal to his articles on history and Bible prophecy.
In his later years he also pastored congregations in Northern Ireland and East Sussex, and that experience added another dimension to his writing. He and his wife Jan were an effective team in our British Isles office near their home.
John was a humble servant who dedicated his life to sharing the gospel—the good news—of Jesus Christ and the Kingdom of God to all the world, and his work was known to readers in nearly every country of the world.
Phil Schafer
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