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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (4806)	1/11/2004 5:37:14 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 110194

They are positive but difficult to calculate as they count also sales within the EZ as exports. German Economy Minister Wolfgang Clement stated bluntly on Thursday that he had hoped for a signal from the independent ECB that it was concerned about the euro's exchange rate level. "It is not yet a catastrophe but the situation is becoming more tense," Clement said during a political meeting in Leipzig.................... Mer made it clear the issue was too big for the ECB to handle without coordination across the main currency regions that liaise in the G7 forum, namely the U.S. and Japanese. "I share the ECB's position. I do not think the current currency volatility can solely be influenced via shifting of (interest) rates," he said. Last November French Finance Minister Francis Mer said: "If the euro stays lastingly around $1.20 that could present problems for our economy". France's Chirac warns on currency instability reuters.com "Exports are traditionally a strong growth driver in our country. They can be penalised by unstable exchange rates," he said, without referring explicitly to the euro's (EUR=: Quote, Profile, Research) rise. "But (exports) also benefit from French companies' efforts to boost competitivity... and also from a better international climate," Chirac added in his traditional New Year's greetings to the media. The declarations come ahead of key international meetings where the euro's rise to record highs against the dollar may well dominate, including the January 20 meeting of EU finance ministers and a Florida meeting of finance ministers from the G7 powers on February 6-7. On Friday, the euro reached a new record high at $1.2852 in the early afternoon in Europe on weak U.S. employment data.