But stock markets around euro-land jumped for joy over today's uneventful launch. Paris and Milan were euphoric. Frankfurt was pretty happy too. Michael Lewis, senior currency trader at Deutsche Bank in London, says there's clear evidence that foreign, especially American, investors are now enthusiastic about the European economy. Eleven currencies merged into one.
Fragmented markets become much more harmonized.
And the capital markets in Europe would become much more mature over the next five or ten years. Britain is holding aloof. A majority of people here oppose membership in the monetary union because it involves a loss of sovereignty. But the British government hopes today's successful launch will persuade many of them to change their minds. The trade minister Lord Simon.