It would be far easier for Italy to reduce its government budget deficit and trim its national debt, both required if it is to join in the single currency starting in 1999, without the constant pressure to transfer yet more resources to the south.

ECONOMIST: Italy��s economy

This conundrum may also be viewed in terms of the significance of the behavior of the monetary base, which is a combination of bank reserve deposits at the Fed (both required and excess) and currency outside the banking system.

FORBES: The Surge in the Money Supply: Meaningful or Meaningless?

Today Aachen is prospering, democracy is firmly rooted, no passport is required to visit neighbouring, or more distant, countries and much of the continent enjoys a single currency.

ECONOMIST: Charlemagne