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Governments Should Help, Rather than Criticize, the ECB, Says EU's Almunia |
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European Economy |
Written by CEP News |
Jul 24 08 07:13 GMT |
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(CEP News) Frankfurt - In an interview with Italian newspaper La Repubblica published on Thursday, European Commissioner for Economic and Monetary Affairs Joaquin Almunia stressed euro area governments should help, rather than criticize, the European Central Bank in the fight against surging inflation.
Almunia also said that the current strength of the euro was a "real problem" and emphasized that the euro area needed to unite on the exchange rate message and speak with a "single voice". Furthermore, the EU Commissioner speculated that the U.S. dollar could fall further and called the Yuan undervalued. "The euro is overvalued while other currencies with an official exchange rate, like the Chinese yuan, are clearly undervalued," Almunia is quoted as saying. By Todd Wailoo CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
