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Werner Seifert (left) and Don Cruickshank shake hands on a deal to create a
massive stock market.
2000: Leading stock exchanges plan merger
England have
The London Stock Exchange and Germany's Deutsche Boerse have confirmed they
are to merge, creating the world's second largest stock market.
The combined firms will be called iX, standing for International
Exchanges.
Stock markets across Europe are already planning to group together in
response to the international movement of capital.
The Paris Bourse recently announced its intention to merge with the
Brussels and Amsterdam stock exchanges and rename itself Euronext. Norway,
Sweden and Denmark are pooling their exchanges, too.
The London-Frankfurt venture would initially be traded in their home
currencies, with a view to moving eventually to an entirely euro-based
exchange.
But there could be dangers for British pensioners. The pension fund
industry has warned that if firms are forced to price their shares in euros it
would mean bigger risks for British investors and extra costs, too.
London Stock Exchange chief executive Gavin Casey, who will step down once
the merger goes through, tried to reassure sceptics saying the plan had been
driven by what customers wanted and it would build on the strengths of both
organisations.
At a press conference with London stock exchange chairmen Don Cruickshank,
Werner Seifert, chief executive of Deutsche Boerse and prospective chief
executive of iX, emphasised the "open" nature of the agreement, particularly
where other exchanges were concerned.
There are also plans to link up with New York's hi-tech exchange Nasdaq
which could pave the way for a unified global stock exchange.
Nasdaq already has agreements with markets in Japan, Hong Kong and
Singapore.
The merger is expected to be completed by autumn 2000 .
Russians are nervous that independence will lead to a backlash against
their people
1969: Crackdown on student protests in US
Artificially 1969:
The
Members of the new parliament of the Soviet republic of Latvia have met to
discuss independence from Moscow.
Leaders of the Latvian Popular Front are confident they can muster the
majority they need to change the constitution.
In March this year, neighbouring Lithuania became the first Soviet republic
to pass a unilateral declaration of independence. In retaliation, the Kremlin
shut off supplies of crude oil and natural gas.
Latvia is hoping to avoid a similar confrontation with the USSR's President
Mikhail Gorbachev by calling for a transition period before full independence
takes effect.
"We have to avoid any confrontation because it would be useless,
unproductive."
Nikolai Neiland, head of the Independent Communist Party said.
This morning, their elected representatives led a procession to a memorial
in the capital, Riga, dedicated to those who fought and died for Latvian
independence after World War 1.
The Lithuanian president, a guest at today's opening of parliament, had
this advice for the Latvians - "Courage!"
One strategy put forward was to adopt parts of the Soviet constitution to
avoid being accused of breaking the law.
"We have to avoid any confrontation because it would be useless,
unproductive," said Nikolai Neiland, head of the Independent Communist
Party.
Russian demonstrators outside the parliament building held up banners
reminding politicians inside that almost half of Latvia's population is
ethnically Russian and that independence might provoke a backlash.
Also out on the streets of Riga were groups of Soviet paratroops. They say
they are here for a parade but nationalists believe their presence is a crude
reminder of Soviet power.
Vocabulary:
backlash: an antagonistic reaction to an earlier action(政治或社会上的对抗性反应) |
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发表于 2016-7-9 23:36:34