-Caveat Lector- >>>And, this could have all been settled back in 19-ought-40. The sole bigger hold-out is Britlandia, again, and one wonders if it will turn to the West to keep itself from being dominated by Germania. The cars, the aeroplanes, the beer, and next the money. The spirit of Herr Adolf (Coors and others) has not been kept alive for naught; it is (a) just [a] reminder of who's been warned ... and for how long. Now, "why". A<>E<>R <<<
From http://www.portal.telegraph.co.uk/news/main.jhtml?xml=/news/2002/01/01 /wger01.xml&sSheet=/news/2002/01/01/ixnewstop.html }}}>Begin Frankfurt dreams but London rules By Toby Helm (Filed: 01/01/2002) HOME of the euro and power base of the European Central Bank, the city of Frankfurt was noisily reviving its hopes last night of one day supplanting London as Europe's top financial centre. At a giant New Year party for the euro in front of the bank's headquarters, where bank President Wim Duisenberg holds court and runs monetary policy for the 12-nation euro-zone, German opera singers and Italian rap stars expressed its towering ambition with a rendition of a special euro anthem. The euro tower was draped in giant notes and coloured lights flashed around the surrounding skyscrapers in the financial centre. With Britain still outside the euro area, euro-enthusiasts have often warned that the City of London had better watch out. But Germany's financial capital on the River Main, nicknamed "Mainhattan" by its people, knows it should not be over-confident despite the euro. Frankfurt has set its sights high before and been disappointed. Walter Kolb, the city's first mayor after the war, was so certain that Frankfurt would become Germany's new capital that he recorded a celebration radio broadcast the night before the decision was made on May 10, 1949. Embarrassingly for the city, Bonn was the winner. Since the launch of the euro as a non-cash currency at the start of 1999, there have been other false dawns. Many financiers predicted that within a few years Frankfurt would race up the league table of world financial centres. But the overall view is that London has retained its dominance as Europe's leading financial centre since 1999 and will continue to do so. A recent survey by the Bank for International Settlements showed that 30 per cent of the world's spot foreign exchange movements were conducted in London, a figure virtually unchanged since 1998 and by the far the largest share of any centre in the world. Nick Parsons, global currency strategist at the German bank Commerzbank in London, had no doubt London would remain predominant and that the introduction of euro notes and coins would change little. "We see it making no difference." 31 December 2001: Launch of euro 'heralds peace and prosperity' 30 December 2001: Nostalgia and resignation in Berlin 29 December 2001: Germans back 'Europe tax' in unity move Previous story: The drinkers toast a franc revolution Next story: The punt buys its last drinks External links Euro - European Central Bank [ECB] A new future for Europe: Welcoming the euro banknotes and coins [Wim Duisenberg speech, 31 Dec '01] - ECB Bank for International Settlements Deutsche Borse London Stock Exchange Der Euro ist da [1 Jan '02] - Frankfurter Allgemeine [In German] � Copyright of Telegraph Group Limited 2001. 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