FRANKFURT (MNI) – The fact that the euro has fallen somewhat versus
the dollar recently is “in no way a concern,” EU Trade Commissioner
Karel De Gucht said in an interview published Thursday.
De Gucht told German daily Sueddeutsche Zeitung that “under normal
circumstances we would all be very happy with this exchange rate,” given
that it cheapens Eurozone exports.
“If the exchange rate were at E1.50 or E1.60, that would not be at
all useful for European trade,” he asserted, adding that Greece rather
than a weak euro is the major problem of the Eurozone at the moment.
The Greek austerity package is “very substantial,” according to De
Gucht
–Frankfurt bureau tel.: +49-69-720142. Email: dbarwick@marketnews.com
[TOPICS: M$X$$$,MT$$$$,M$$EC$,M$$FX$,MGX$$$,M$$CR$]
