FOREX TradingCharts.com

Financial News: ECB's Coeure Says Euro At Appropriate Level For

ECB's Coeure Says Euro At Appropriate Level For Economy

02/07/2017 - 03:08:00 (RTTNews)

(RTTNews) - The euro is now at a level appropriate to the European economic situation and serves as a lever of sovereignty, European Central Bank Executive Board member Benoit Coeure said Tuesday.

The ECB does not have an exchange rate target, but the euro has adjusted accordingly, Coeure said in a interview to the Le Parisien newspaper. The currency depreciated nearly 30 percent versus the dollar since the last peak of 2011, he noted.

The ultra expansionary monetary policy was necessary to raise inflation and employment in the euro area, the policymaker said.

The single currency is clearly a success in its 25 years of history, Coeure said. The euro is not a loss of sovereignty, it is a lever of sovereignty, he added. The euro has mainly benefited the disadvantaged and the precarious, Coeure said.

Regarding the claim by the Marine Le Pen-led right-wing populist party National Front to exit the euro if they win the election this year, Coeure said that is not want the French want, who unambiguously think that euro is a good thing.

"Getting out of the euro would mean choosing impoverishment," he added.

He also said that Greece never wanted to exit the euro despite the severe difficulties the country has faced over recent years. The Greeks are not yet out of business, he said with reference to the present bailout crisis.

The euro has a future, but euro area needs to reform, Coeure said.

With a debt ratio close to 100 percent of GDP there was no room for fiscal stimulus in France, the policymaker pointed out.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Turkey's Trade Deficit Widens In January (16 min(s), 35 sec(s) ago)
(RTTNews) - Turkey's trade deficit widened in January from the prior year, figures published b ...Full Story»

Finland Dec Trade Deficit Widens Less Than Estimated (19 min(s), 35 sec(s) ago)
(RTTNews) - Finland's foreign trade deficit increased less than initially estimated in Decembe ...Full Story»

Estonia Q4 Economic Growth Improves (44 min(s), 35 sec(s) ago)
(RTTNews) - Estonia's economic growth improved further in the three months ended December, fig ...Full Story»

South Africa's Private Sector Credit Increases In January (01 hr(s), 19 min(s), 35 sec(s) ago)
(RTTNews) - South Africa's private sector credit expanded at the fastest pace in three months ...Full Story»

Singapore PPI Climbs Further In January (01 hr(s), 26 min(s), 35 sec(s) ago)
(RTTNews) - Singapore's producer prices increased for the second straight month in January, fi ...Full Story»

Japan's Housing Starts Growth Improves In January (01 hr(s), 27 min(s), 35 sec(s) ago)
(RTTNews) - Japan's housing starts expanded at a faster pace in January, the Ministry of Land, ...Full Story»

European Economics Preview: France CPI, Consumer Spending Data Due (01 hr(s), 43 min(s), 35 sec(s) ago)
(RTTNews) - Flash consumer prices, household spending and revised quarterly national accounts figu ...Full Story»

Japan Small Business Confidence Falls For Second Month (01 hr(s), 55 min(s), 35 sec(s) ago)
(RTTNews) - Japan's small business confidence weakened for the second straight month in Februa ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Turkey's Trade Deficit Widens In January

02/28/2017 - 02:23 AM (RTTNews)
(RTTNews) - Turkey's trade deficit widened in January from the prior year, figures published b ...Full Story>>

Finland Dec Trade Deficit Widens Less Than Estimated

02/28/2017 - 02:20 AM (RTTNews)
(RTTNews) - Finland's foreign trade deficit increased less than initially estimated in Decembe ...Full Story>>

Estonia Q4 Economic Growth Improves

02/28/2017 - 01:55 AM (RTTNews)
(RTTNews) - Estonia's economic growth improved further in the three months ended December, fig ...Full Story>>

South Africa's Private Sector Credit Increases In January

02/28/2017 - 01:20 AM (RTTNews)
(RTTNews) - South Africa's private sector credit expanded at the fastest pace in three months ...Full Story>>

Singapore PPI Climbs Further In January

02/28/2017 - 01:13 AM (RTTNews)
(RTTNews) - Singapore's producer prices increased for the second straight month in January, fi ...Full Story>>
These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.