Minister Volker Hermann Schlegel offered ELF members, university students and professors, local Jackson businessmen and government officials an overview of U.S./German economic relations.  He stated that U.S./German bilateral trade is the largest in the world.  Sales of all three German auto manufacturers are up dramatically in the U.S.  Germany is experiencing new economic policies and privatizations in its telecommunications industry and in the gas and electric sectors.   The German tax code is undergoing changes, including a drop in corporate taxes.   Minister Schlegel stated that U.S. construction companies active in eastern Germany are having considerable success.  He emphasized that we should not believe the sometimes gloomy picture portrayed in the news regarding the economic relationship between the U.S. and Germany.  Problems will arise in trade between two nations and tariffs and disputes are common.  He summed up German/U.S. trade relations by stating that "one cannot make an omelette without breaking eggs," and that "bananas and hormone beef are problems but we should not allow such problems to cut down U.S./German trade relations."  At present, U.S. investment in Germany accounts for 700,000 U.S. jobs.  Germany's Agenda 2000 calls for a E85 billion ($95 billion) budget for economic development and Germany's and the EU's agriculture policy highlights the fact that more goods are to be imported into the European continent.

Minister Schlegel also discussed the problem of dual citizenship for German immigrants and Germany's role as president of the EU or "Euroland."   The introduction of the Euro currency is off to a good start, exchange rates are normal and 50% of all international bonds are presently underwritten in Euro's.   During the question and answer period, Minister Schlegel spoke about the Kosovo crisis.  He expressed hope that a German diplomatic initiative might bring a solution to the conflict.