The German Bundesbank threw a spanner in the EMU works yesterday (28 May)…

Series Title
Series Details 29/05/97, Volume 3, Number 21
Publication Date 29/05/1997
Content Type

Date: 29/05/1997

...by attacking Bonn's plan to revalue its gold reserves. The government's plans to transfer the extra profits generated in this calendar year could be undermined by the Bundesbank, although Chancellor Helmut Kohl has vowed to press ahead. Bonn expects to be able to meet the budgetary entry target of 3&percent; of gross domestic product this year, but wants to use the gold initiative as a contingency.

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