31. Ukraine plans to introduce new currency, the hryvna, by October, President Leonid Kuchma said Wednesday. 32. Wellink believes it is unrealistic for the new currency to be introduced nationally in just one day. 33. If the common European currency is introduced it will have the immediate effect of cutting back the forex market in Asia and elsewhere, he said. 34. Clarke on Thursday suggested a single European currency could be introduced before the end of the century. 35. Delors said that the single currency should be introduced quickly if it were to be a success. 36. Major said he expected a minority of EU countries to form a first group introducing the currency. 37. Russian bankers, for their part, faulted euro zone authorities for having been slow to explain procedures for introducing the currency in countries outside the zone. 38. Soros reminds his readers that in any case governments will have to harmonize their budgetary policies after the new currency is introduced. 39. The currency was introduced in July as part of a series of measures to fight inflation. 40. The karbovanets was intended to be a transitional currency for the newly independent Ukraine until its permanent national currency was introduced once the economy stabilised. |