« Paris: embargo de armas já não se ajusta à relação China-UE | Entrada | El Parlamento Europeo admite a trámite la denuncia de IU contra la obra de reforma de la M-3 »

dezembro 06, 2004

Eurozone calls for US action as euro soars

Fonte: France Press

The 12 euro nations expressed concern at sharp volatility in currency rates, and in a thinly veiled call to the United States urged "all major countries" to put appropriate policies in place.

"We are of the opinion that excessive volatility and disorderly movements in exchange rates are undesirable for economic growth," eurozone finance ministers said in a statement agreed with the European Central Bank (ECB) at talks here.

"In particular, recent sharp moves of exchange rates are unwelcome and not conducive to orderly adjustments of external imbalances," the statement said.

"All major countries and economic areas must play their part more actively in reducing global imbalances by putting in place the appropriate economic policies. We will monitor the situation closely," it concluded.

The statement, which was tougher than the EU ministers' last declaration on exchange rates three weeks ago, came as concern mounts that the euro's record-breaking surge against the dollar is hurting Europe's ailing economy.

In particular European finance chiefs want the United States to rectify its yawning trade and budget deficits, which analysts say are most to blame for the dollar's slide.

"It's unacceptable that Europe should pay the bill for major imbalances in the world economy, especially in the (deficits) in the US," Austrian Finance Minister Karl-Heinz Grasser told reporters.

Belgian Finance Minister Didier Reynders chimed in: "We must deliver a quite strong message to our American partners that if there are imbalances, they are more on the American side."

ECB president Jean-Claude Trichet, who attended the eurozone talks, did not address questions about concerted international intervention on the currency markets to prop up the dollar.

But he told a news conference: "As I said to the ministers earlier, I trusted that we all have homework to do (in the US and Europe), and there is consensus about what needs to be done."

Publicado por esta às dezembro 6, 2004 09:43 PM