Germany's Schaeuble: Euro too stable

GMT 08:12 2014 Saturday ,19 July

Arab Today, arab today Germany's Schaeuble: Euro too stable

Wolfgang Schaeuble
Paris - SPA

In a rare break with his usual reticence on the subject
German Finance Minister Wolfgang Schaeuble suggested Friday the euro
was overvalued, dpa reported.
"The euro is a stable currency. Too stable and overestimated in
financial markets," Schaeuble, who was speaking at a Paris forum on
the future of the eurozone, said.
Trying to influence exchange rates would not solve competitiveness
issues, however, he warned.
France, which is struggling to compete with fitter European
economies, has been pushing for months for a weaker euro, saying its
current level is hurting exports.
Germany's position is that such matters are the sole domain of the
European Central Bank, the independence of which must be respected.

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