Tuesday, December 12, 2006

The Franc coming Back?

Ohhhhh, the Euro experiment gets interesting.
Dominique de Villepin, the French prime minister, has launched an all-out attack on the European Central Bank, calling on eurozone nations to assert political control over the euro and reclaim their economic sovereignty.

Speaking on French radio as the euro surged to fresh records against Asian currencies, he said it was time to "lay everything on the table" and set the proper limits of ECB power. "We must clarify matters in exchange rate policy, which means taking back our sovereignty and our margin for action so the states can play their part," he said. The comments came as Nicolas Dupont-Aignan, a presidential candidate, became the first major Gaulliste to call for a return to the franc, underlining the collapsing popular support for monetary union in parts of French society. Mr Dupont-Aignan said the EMU had become unreformable, leading to a monetary squeeze that was driving the French economy into slump.
Well, if they do, I hope they bring back the 10-Franc coin. Always liked it. BTW, this is great audio commentary on it.
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