PRICE WATERHOUSE -- 'GOUGING' GERMANY: 'DEJA VU ALL OVER AGAIN'
PRICE WATERHOUSE -- 'GOUGING' GERMANY: 'DEJA VU ALL OVER AGAIN' PHILADELPHIA, Sept. 28 /PRNewswire/ -- Some 55 years ago, world opinion turned against Japan and Germany as a result of their collective economic, political and military policies. Earlier this year, we saw a barrage of Japan-bashing as the U.S. economy struggled. The latest trend now seems to be "gouging" Germany for its fiscal policies vis-a-vis the German Mark. "Let's face it," said Larry Soares, an international services partner for Price Waterhouse, "Germany's interest rates, low inflation and stable government are attractive lures to the international investor." And, as capital flows into Germany, demand for the mark increases. "People forget," said Soares, "that currency is a commodity just like wheat. In today's economic conditions, the mark will rise against other European currencies -- it's the basic law of supply and demand." What will happen down the road? Soares quotes Yogi Berra: "'It's like deja vu all over again.' After the furor subsides, and now with the French on board with Maastricht, albeit just barely, the markets will adjust over time. In the near term, however, the economic ministers of Britain, Italy and even Spain have their work cut out for them in rejuvenating their economies. Of courses we here in the states know how difficult that can be." /delval/ -0- 9/28/92 /CONTACT: Molly Mark of Price Waterhouse, 215-575-5878/ CO: Price Waterhouse ST: Pennsylvania IN: FIN SU:
JS-LJ -- PH028 -- 4059 09/28/92 16:04 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Sep 28, 1992|
|Previous Article:||WANG NAMES NEW ZEALAND COUNTRY MANAGER|
|Next Article:||CARNA ACQUIRES ASSETS OF MARK CORRECTIONAL SYSTEMS|