
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, October 30, 1993                   TAG: 9310300059
SECTION: NATIONAL/INTERNATIONAL                    PAGE: A8   EDITION: METRO 
SOURCE: Associated Press
DATELINE: BRUSSELS, BELGIUM                                LENGTH: Short

EUROPE PICKS GERMANY AS CENTRAL BANK SITE

European Community leaders propelled their political and monetary union into motion Friday, selecting Germany as home of a central bank that is to issue a single currency by 1999.

After several hours of haggling, leaders of the dozen nations tapped Frankfurt as the site of the European Monetary Institute, which is to be the forerunner of a central bank.

The bank is part of the community's push to create a European Union with a common foreign, defense and monetary policy by the end of the century.

by CNB