Angela Merkel’s deputy parliament leader Ralph Brinkhaus says that France’s idea of euro devaluation is not a solution and that the ECB’s mandate is to maintain price stability.
Speaking also from the party script he said that growth, jobs and stability can only be secured by way of lasting structural reforms and that governments shouldn’t try to duck away from the task as in the end it will benefit European companies that are exposed to international competition no matter where they are based.
The French seem to think that all their woes will be washed away with a weakened euro.
Airbus CEO Fabrice Bregier has been repeating his call first made in May that the ECB should knock the euro down to the 1.20-1.25 level.
It seems that QE is the main tool people are looking for to hammer the euro down but the recent rhetoric from the ECB is that QE is a long way away and more of a “In case of emergency break glass” tool
