** us dollar booms again **, page-3

Hi SP,

Whilst the States will always have its critics, Europe really is turning into a bit of a shambles.

Witness the following:
1.
Leading proponent France votes No on the EU Constitution and promptly loses its Prime Minister (with Chirac increasingly looking lame from a Presidential perspective - hence the selection of Villepin as replacement PM).
2.
Gerhard Schroeder in trouble in Germany with the CDU closing to short priced favourtism for elections coming up. This past weekend, alone, Shroeders SDP lost in several provincial elections including in Schroder's home state.
3.
Germany's unemployment now back to 1930s' levels.
4.
The Maastricht Treaty deficit ceiling being breached all throughout Europe.
5.
No economic, social, comeptition, or IR reforms being pursued (except in some of the non-Euro countries such as Sweden, and the UK).
6.
Italy fast becoming the basket case recessionary risk in Europe (arguably, already in recession).

What was holding the EURO together was arguably the ability to unite Europe together under the new Constitution. With that now virtually fractured at the seams, a United States of Europe option is very unlikely, and the Franco-German alliance is likely to be dismantled by year's end.