What you see is that power, by contrast, uses the monetary weapon for its own interests – it is the case with China, Japan, and the United States,” Secretary of State for Europe Jean-Pierre Jouyet told LCI television. German Chancellor Angela Merkel was quoted as saying on Tuesday that Berlin strongly opposed French President Nicolas Sarkozy’s criticisms of the ECB and euro strength. Among the senior European policymakers who have indicated that no action is needed is Jean-Claude Juncker, the chairman of the Eurogroup of euro zone finance ministers. Juncker said he did not think a strong euro would undermine economic growth and took a swipe at France by adding that those who disliked a strong common currency should focus on domestic reforms to improve competitiveness. read more
[Tags]euro, european, finance, french, jouyet, policymakers, forex news[/Tags]
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