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Wednesday April 20, 10:58
The French and the Dutch's voting "no" to shake currency market
(by Brigitta Zuflitzler)

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The French and the Dutch's voting "no" to shake currency market The forecast possibility that the French and the Dutch would vote "no" on the European Union constitution could create the situatuon when the euro may fluctuate against the dollar and yen.

However, the Turkish lira seems to be at biggest risk as the «no» voting would mean that main European members are not eager to invite new members.

"Turkey will take a hit because a French ’no’ vote would be interpreted as a vote against future EU expansion," said Koon Chow, emerging-market currency strategist at Credit Suisse First Boston in London. "In order to get through a second referendum, the ’yes’ campaign may have to be more skeptical on Turkey."

A number of polls in France have shown the country’s intention to vote "no" on May 29. The same situation seems likely in the Netherlands three days later.

Generally, the votes appear to be a worrying sign for survivability of the European economic experiment in the light of the fact that both France and the Netherlands were among the six constitutional members of the European Union’s predecessor in 1957.
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Read the related news and articles:
31 May 2005 06:48 AM French Prime Minister has resigned after ’No’ vote on EU treaty
25 May 2005 10:29 AM German IFO index fell to 92.9 in May
24 May 2005 06:39 AM German ZEW Indicator unexpectedly fell to 13.9 in May
20 May 2005 05:33 AM French GDP rose 0.2% in the first quarter
19 May 2005 12:09 PM EU may suffer if France rejects Constitution
 


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