ROME (MNI) – Global leaders are engaged in a dialogue on foreign
exchange rates, not a “currency war” as some have argued, European
Central Bank Executive Board member Lorenzo Bini Smaghi said Thursday.
Speaking to reporters after an Aspen Institute conference here,
Bini Smaghi noted that at the annual meetings of the International
Monetary Fund and World Bank last weekend, “we discussed with major
actors ways to improve cooperation.”
The term “war,” he added, is “not an appropriate word to describe
the cooperation that has taken place…The concrete discussions show
that there are no currency wars.”
[TOPICS: M$$EC$,M$X$$$,MT$$$$,M$$CR$,MGX$$$,M$$FX$]
