(Bloomberg) -- The European Commission said the
euro's appreciation can't be blamed for poor export performance,
rejecting complaints by French President Nicolas Sarkozy that
the currency shared by 13 countries is too strong.
``The fact that some euro-area countries have performed
much better than others sharing the same currency is evidence
that the exchange rate plays only a limited role in the export
performance of the individual countries,'' the commission, the
European Union's executive arm in Brussels, said today in a
quarterly report on the economy.
Read more at Bloomberg Currencies News
euro's appreciation can't be blamed for poor export performance,
rejecting complaints by French President Nicolas Sarkozy that
the currency shared by 13 countries is too strong.
``The fact that some euro-area countries have performed
much better than others sharing the same currency is evidence
that the exchange rate plays only a limited role in the export
performance of the individual countries,'' the commission, the
European Union's executive arm in Brussels, said today in a
quarterly report on the economy.
Read more at Bloomberg Currencies News
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