European Union Finance Ministers Gather to Discuss the Euro's Strength and EU Budget Rules
Published:
20 January 2004 y., Tuesday
European Union finance ministers were expected to face worries over the euro's strength and divisions over France and Germany's bending of EU budget rules as they gathered Monday night for the first time this year.
Ministers concerned over the euro's recent multi-record-breaking surge against the dollar in recent weeks will take some heart by a minor greenback resurgence Friday that held steady in early European trading Monday with the EU currency down 5 cents from last week's highs, at around $1.23.
However, analysts cautioned that the turnaround could be temporary, and some politicians remain concerned that the soaring euro could stifle a fledging economic recovery in Europe by making exports too expensive against American competition.
French Prime Minister Jean-Pierre Raffarin last week said the best level for the euro would be "around parity" with the U.S. dollar.
After weeks of playing down the impact of the stronger euro, EU officials acknowledged growing concern.
"The language being used for the EU position ... has changed already since the beginning of the year, giving more emphasis to the dangers linked to volatility," EU spokesman Gerassimos Thomas told reporters ahead of the meeting.
However diplomats said it was unclear whether the 12 euro-zone finance ministers meeting Monday evening would issue a joint statement on the exchange rate. Austrian Finance Minister Karl-Heinz Grasser said he did not expect them to intervene.
On Tuesday, ministers from non-euro EU nations, Britain, Sweden and Denmark, join the talks. Among the issues will be a look at lessons to be drawn from the meltdown at Italian food giant Parmalat.
Šaltinis:
abcnews.go.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
EBRD to pay 4.6 billion roubles for 11.75 percent stake.
more »
On 24 November in London a letter of intent will be signed between Alytus Municipality and the Spanish aluminium company “Sopena group” regarding investments of the “Sopena group” in Alytus.
more »
Tourism opportunities in Dzūkija Region of Lithuania and other issues of incoming tourism promotion were the main topics of the meeting of the Mixed Intergovernmental Commission on Trade and Economic Cooperation between the People’s Republic of China and the Republic of Lithuania.
more »
On 22-23 November in Kiyv, foreign ministers of Lithuania, Ukraine and Belarus discuss trilateral cooperation and participation of Belarus and Ukraine in the Eastern Partnership of the European Union.
more »
The Kozloduy International Decommissioning Support Fund is supporting an innovative programme to boost energy savings and efficiency of public buildings in Bulgaria with a €5 million grant.
more »
Bank DnB NORD’s Economic Research Group predicts that out of the six Baltic Rim countries, moderate economic growth will be seen in Poland, Finland and, possibly Estonia in 2010, while Denmark, Lithuania and Latvia will need more time to climb out of recession.
more »
In a meeting in Brussels of the European Bank Coordination Initiative held on 19 November 2009, the parent banks of the six largest foreign banks active in Hungary reaffirmed their commitments made in May 2009 to support their subsidiaries.
more »
On 17 November 2009, the Board of AB Bank SNORAS decided to establish the bank’s representative office in London.
more »
The European Commission has approved, under EC Treaty state aid rules, two capital injections in favour of 'The Mortgage and Land Bank of Latvia' (LHZB).
more »
The government of G hana will tomorrow sign an historic agreement with the EU aimed at ensuring that only legally harvested timber from the West African country is exported to the EU market.
more »