-Caveat Lector- - he almost single handedly caused the eruption of the South east asian regional countries. No wonder he wants to see the euro propped up as he can then speculate against it and make zillions more. Sunday Telegraph ISSUE 1948 Sunday 24 September 2000 Soros demands more help for the beleaguered euro By Richard Fletcher GEORGE SOROS, the international financier who forced Britain out of the exchange rate mechanism in 1992, yesterday called for further financial intervention from the world's leading central banks to protect the sinking euro. Soros was speaking on the fringes of the International Monetary Fund and World Bank meetings in Prague where finance ministers and central bankers are meeting this weekend to discuss worries over world oil prices and assess the climate in currency markets. The meeting follows last Friday's massive moves by the US Federal Reserve and other central banks to defend the euro. Soros said more action is needed to have any lasting effect. Soros said: "This intervention by itself is not enough to turn the market." The central banks of Canada, Britain, France, Italy, Japan and the US spent between $5bn and $8bn propping up the battered euro on Friday. The intervention came just one week before a referendum in Denmark on whether the country should join European Monetary Union. [Ed: Why aren't we told exact figures? - nor who actually finances this - the banks or the tax-payers]. Soros, renowned for his speculation in the currency markets during the 1990's praised the intervention. He said: "It was a much needed move and it was very well done because it caught the market by surprise. I think it will be successful. All the preconditions for success are there." [Ed: Success for who?] Soros argued that the official aim should be to get the euro up to $0.90 which he said "was a sound and defensible level". The single European currency briefly rose above $0.90 on Friday after the intervention took the market by surprise but it had retreated to $0.877 by the time the US markets closed. Meanwhile a spokeswoman for the German finance ministry claimed that the seven finance ministers had reached an interim deal on how to react to the recent sharp rise in crude oil prices. She said: "It was agreed that tax cuts are not the right way to react to oil prices, rather that on the one hand oil producing states must be urged to increase productive capacity and on the other hand to arrive at a more efficient use of energy." Yesterday Gerhard Schröder, the German chancellor, announced a boost in tax deductions for commuters hit by the higher cost of petrol and compensation payments for the less well-off, to help with the rise in heating oil prices. <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html">Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
