THE JOHNS HOPKINS UNIVERSITY OFFICE OF NEWS AND INFORMATION 3003 N. Charles Street, Suite 100 Baltimore, Maryland 21218-3843 Phone: (410) 516-7160 / Fax (410) 516-5251

December 22, 1998 FOR IMMEDIATE RELEASE MEDIA
CONTACT: Glenn Small, [email protected]

EUROPE'S NEW CURRENCY, THE EURO: JOHNS HOPKINS SOURCES

On January 1, most European Union countries will adopt a common currency as part of their efforts at economic unity. What does this mean for the United States and the world economies? Is the timing for such a move good or bad? Four of the 15 EU nations are not going along with the common currency. Will that hurt them, or give them a competitive advantage?

If you are preparing stories on this topic, and need scholarly sources to provide background and insight, consider the following Johns Hopkins professors:

Steve Hanke, a professor of applied economics, studies world markets and currency issues and is an expert on currency boards. His view is that the euro "could not have come at a worse time," with Asia still in an economic downturn, South America in a slump and Russia still reeling from its currency crisis of last summer.

You may reach him at 410-516-7183 or by e-mail.

Mark Blyth, an assistant professor of political science, is an expert on the political economies of industrial democracies and a native of Scotland. He can provide background and insight on the political and economic ramifications of the adoption of the euro as Europe's common currency.

You may reach him at 410-516-7528 or by e-mail.

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