BERLIN – The strength of the euro, especially against the yen, is not a problem for the euro zone economy, European Monetary Affairs Commissioner Joaquin Almunia said in a German magazine interview released yesterday.
“At the current level, the (exchange) rates are not a problem for the economy,” Almunia told Capital magazine. The G7 industrial powers, under pressure to address a decline of the yen, warned investors on Saturday that they could get burned betting in one direction when Japan’s economy was continuing to strengthen.Markets largely ignored the signal.Almunia said Europe’s economy looked in good shape.Earlier official figures showed German growth surged beyond expectations in the final quarter of last yearNampa-ReutersThe G7 industrial powers, under pressure to address a decline of the yen, warned investors on Saturday that they could get burned betting in one direction when Japan’s economy was continuing to strengthen.Markets largely ignored the signal.Almunia said Europe’s economy looked in good shape.Earlier official figures showed German growth surged beyond expectations in the final quarter of last yearNampa-Reuters
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