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Publicado: 7 de febrero de 2013
Germany rules out euro price fixing
The euro is currently overvalued when considering the long-term trends.
Germany rules out euro price fixing
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The euro is currently overvalued when considering the long-term trends, said Wednesday a spokesman for Chancellor Angela Merkel, who seemed to remain indifferent to a French proposal toagree on an exchange rate of "medium term" for the currency only.
If you look at the historical context, the German Government maintains the view that the euro is overvalued at the moment, SteffenSeibert said in a press conference scheduled. The euro took hold to 1.3535 dollars from 1.3506 dollars after some of the comments of the spokesman.
France has expressed concern about the strongeuro. On Tuesday, French President, Francois Hollande, said the euro zone should agree on an exchange rate "medium-term" to the euro and global markets act to protect their interests.
French FinanceMinister, Pierre Moscovici, said Wednesday that France expressed its concern about the progress of negotiations in the euro zone ministers on Monday and euro at a summit of the G20 economies scheduledfor mid-February. "Certainly there will be a conversation about that (...) but the German government's position is that the exchange rate policy is not an instrument for increasing competitiveness,said Seibert.
Only short-term pulses achieved through a deliberate devaluation. Increased competitiveness in the long term do not get that way," he said.
Seibert said the euro's recent rise cameafter a "massive" single currency depreciation during the crisis in the euro zone and that was a sign that investor confidence is returning.
Alemania descarta fijar precio del euro
El euro no está...
The euro is currently overvalued when considering the long-term trends.
Germany rules out euro price fixing
Related Notes »
• Up 12% grain imports
•Brazil eliminates tariffs on wheat production fall in Argentina
• Starts in Monterrey Manufacturing Expo 2013.
• Increased 45% price of beans imported by Mexico
• Mexico won historic amount of oilrevenues in 2012
The euro is currently overvalued when considering the long-term trends, said Wednesday a spokesman for Chancellor Angela Merkel, who seemed to remain indifferent to a French proposal toagree on an exchange rate of "medium term" for the currency only.
If you look at the historical context, the German Government maintains the view that the euro is overvalued at the moment, SteffenSeibert said in a press conference scheduled. The euro took hold to 1.3535 dollars from 1.3506 dollars after some of the comments of the spokesman.
France has expressed concern about the strongeuro. On Tuesday, French President, Francois Hollande, said the euro zone should agree on an exchange rate "medium-term" to the euro and global markets act to protect their interests.
French FinanceMinister, Pierre Moscovici, said Wednesday that France expressed its concern about the progress of negotiations in the euro zone ministers on Monday and euro at a summit of the G20 economies scheduledfor mid-February. "Certainly there will be a conversation about that (...) but the German government's position is that the exchange rate policy is not an instrument for increasing competitiveness,said Seibert.
Only short-term pulses achieved through a deliberate devaluation. Increased competitiveness in the long term do not get that way," he said.
Seibert said the euro's recent rise cameafter a "massive" single currency depreciation during the crisis in the euro zone and that was a sign that investor confidence is returning.
Alemania descarta fijar precio del euro
El euro no está...
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