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April 20th 2007

EU Leaders to Discuss Euro Appreciation

As the Euro has gradually risen over the last year, EU leaders have been conspicuously silent.  Sure, generic comments had been made lamenting “volatility” in the forex markets.  But few politicians had made overt declarations that Euro’s appreciation was a matter that merited attention from EU member governments. This week, the silence was broken, as two notable politicians, the Prime Minister of Luxembourg and the Finance Minister of France, commented on the Euros’ appreciation, going so far as to discourage market participants from coaxing the Euro upward. IOL News reports:

“The markets should not embark on one-way bets.” Asked about the apparently resigned attitude of European countries…on exchange rates, Juncker [Luxembourg’s PM] hinted that there was more attention paid to the euro’s strength than reflected in the final statement.

Read More: EU finance chiefs to focus on surge of euro

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Posted by Adam Kritzer | in Euro, Politics & Policy | No Comments »

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