On January 1, 1999, the euro comes into existence.
After seven years of economic "reform" financed by billions of dollars in U.S.
Ron Carey looked like a tired stereotype: the disgraced labor boss on the witness stand, with dark bags beneath his eyes, denying accusations of wrongdoing in a made-in-Queens accent.
At the turn of the year, the Western media, like
latter-day Columbuses, suddenly discovered that
Europe was speaking with an increasingly strong
German accent. Their surprise was surprising.
By the skin of their teeth... Watching on French
television the gloomy faces of the alleged winners
one could not help feeling there was an element of
defeat in their victory.
Wall Street did not simply drag Europe's exchanges down in its fall.
The plans painstakingly prepared by the master builders of Maastricht now lie torn to ribbons. The once mighty mark is showing signs of wear under the strain of German reunification.
Staughton Lynd, although he would never admit it, is one of the visible
saints of the modern American left.
Nineteen ninety-three was to be a banner year for Europe. With the opening of the Single Market people would cross frontiers without visas and goods would flow unhindered by tariffs.