02/06/2005
Al-Alam Alyom Newspaper 2005/JUNE /02
The chairmen of the Egyptian business associations have their say on the repercussions of France’s rejection of the European Constitution. Some are pessimistic and focus on the fall of the Euro and the possible obstacles to further integration with and within the EU. Other, though, do not find the picture as bleak as it may look.(Available in Arabic – German in PDF )
The chairmen of the Egyptian business associations have their say on the repercussions of France’s rejection of the European Constitution. Some say this will dissuade other countries from ratifying it, as well, and this would be a devastating blow to Europe’s efforts to achieve political integration. Another negative effect is on the Euro, which fell to its minimal levels in seven months against the US dollar. Yet, there are those who say that it should not take very long for a strong economy like France itself or the entire EU to absorb any negative effect. Moreover, this fall could also have positive consequences, as it may become easier to buy European equipment and goods. Some fear possible obstacles to a stronger partnership between the EU and its Mediterranean neighbor, including Egypt.