Transcription
Amsterdam, 9th June 2005
Dear Stuart,
You and I agree on the potential disaster for the world economy due to the US administration's reckless tax cuts and military spending.
When the crunch would come to the crunch Europe with their Euro could fulfil an important role in mitigating insecurity caused by the US.
I strongly believe that the Dutch "No vote" (for a European constitution; ADD)
sees primarily to domestic issues. First of all, the word "constitution" is wrong.The so-called "constitution" is nothing but a streamlined Nice-Treaty and changes were made for the better.
Mr de Villepin (51) replaced monsieur Rafarrin as Premier in France. He has the impossible task to bring down the double digit unemployment figure. Unless he is prepared.to take unpopular new liberal measures, he will not succeed.
The enclosed clipping from the IHT (International Herald Tribune) d.d. 26th May 2005 quote: "a dangerous game in France by Daniel Cohn Bendit is more to the point than the editorial of the Times of 2nd June 2005, if you ask me?
Politicians of the "Liga Nord" in Italy raise their voice for the return of the Lira. How pathetic ! Do they realise that they will pay, perhaps 12 % p.a. on Lira denominated debt? Yes, but the advantage is that nothing restrict them to devaluate the Lira!
We do not want to return to a Europe, in which every country looks after its own currency with a sequel of competitive devaluations, do we?
Coming Sunday 12th June) we are off to France, Switzerland and Italy and we will be back at the beginning of July..
Love from Vera and me , Adriaan
