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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (15373)	11/10/2004 12:32:12 PM
From: mishedlo	Read Replies (1) of 116555

EU´s Almunia says ´we are worried´ about strength of the euro UPDATE Wednesday, November 10, 2004 4:57:16 PM afxpress.com BRUSSELS (AFX) - European economic and monetary affairs commissioner Joaquin Almunia said the European Commission is concerned about the strength of the euro, which reached 1.30 usd today. Asked if he is worried about the rise in the euro, he said: "Of course we are worried by this evolution of the exchange rate of the euro versus the US dollar." He said the G7 statement in February warning of the risks of excessive volatility and disorderly movements in currencies still stands He said the euro zone finance ministers will discuss foreign exchange developments at their meeting on Monday evening. Almunia also called for the US government to tackle its twin deficits. He added that other currency movements are posing problems, and called on China to adopt a more flexible exchange rate against the dollar

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