EU leaders voice concern at strong euro
Major european political figures have been voicing concerns about the strength of the euro, especially in the face of its strength against the USD.
German Chancellor Gerhard Schroeder wrote in a newspaper article that stability in foreign exchange markets required a correction of global economic imbalances.
Italian Prime Minister Silvio Berlusconi has also voiced concerns about the strength of the euro, stating that the current strength was “absolutely worrying” for Italian exports.
France’s finance minister, Herve Gaymard, has also commented that the strength of the euro against a devalued dollar would have to be a significant topic of discussion at February’s G7 meeting.
The export-driven European economies are worried about continuing devaluation of the USD and it’s impact on the euro for their exports.
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