MAASTRICHT SCEPTICISM SPREADS: BUNDESBANK OFFICIAL WARNS OF
RISKS
18-01-1996 16:25:00 | Armenia | World News
Berlin, Jan 18 (DPA -NT) - A leading member of Germany's
Bundesbank, Otmar Issing, has joined those expressing concern
about the prospects for introducing a common European currency
by the turn of the century. In an interview in latest issue of
Der Spiegel magazine, Issing, who is the central bank's chief
economist, warned that the risks involved in pressing ahead with
the 1999 deadline for European monetary union "should not be
underestimated".
Issing, who is also a member of the Bundesbank council,
raised doubts about whether the European Union member states had
enough time to stabilise their finances "to launch the common
currency under good conditions". His remarks come after the
release last week of figures showing that Germany's national
deficit in 1995 had overshot the strict Maastrict Treaty target
of three per cent of the gross domestic product by a
surprisingly high 0.6 per cent.
dpa am ds /AA1234/151454 Jan 96 nnnn