French Minister: Weak Euro Can Only Benefit European Industry
PARIS (Dow Jones)--A weak euro can only be good for European industry, the French minister for industry, Christian Estrosi, said Sunday on television channel BFM TV.
"As we arrive gradually at a level of the euro close to the dollar, that can only be beneficial for French and European industry," Estrosi said.
"We have seen how Airbus has been in great difficulty, and continues to be, in terms of foreign trade compared to Boeing (BA)," Estrosi said.
Estrosi also reiterated comments of French finance minister Christine Lagarde that euro-zone member states must show solidarity with Greece, but that does not imply being complacent.
On Friday, Greece requested the activation of an aid package made up of EUR30 billion of loans from euro member states, with the IMF expected to lend a further EUR15 billion.
Estrosi also said that there could be more difficulties to come in Europe.
"After an unprecedented economic crisis, when a certain number of deficits in a certain number of countries have grown, there comes a moment when you have to put a mechanism in place, so long as those countries take on their share of responsibility," he said.
In a wide-ranging interview, Estrosi also said that in coming weeks he will implement measures to strengthen France's industry, notably the car parts industry in France.
In a few months time, it will be possible to label products with the proportion of components made in France, Estrosi said.
"I want 'made in France,'" he said.
-By William Horobin, Dow Jones Newswires; +33 1 4017 1740 |
