European Union Presented As A Grim Reality; Dresdner's Willi Expects Sharp Volume Drop
BANKS
European monetary union will cut as much as one-third off the present volume of Dresdner Bank's forex transactions and reduce its commission income by up to 45 percent, the bank's treasury director, Rolf Willi, told traders attending the Telerate-sponsored conference on foreign exchange in London this week.
"It will definitely be a double-digit DM figure," he said. This dire prediction was one of many references to the consequences of EMU at the conference: in general, speakers here were
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