1997 Reports

The yen, the dollar and the euro

Kaufman, Henry

"I am delighted to participate in this timely conference and to see so many friends on the
program and in the audience. I would like to offer a few observations on how the project to establish
a common European currency is progressing and then to trace through some of the implications of
that currency, the Euro, for the dollar, the yen, and the financial markets more generally. But before
turning to that important subject, I want to make some comments on the recent turmoil in the world’s
financial markets."