Arab Today, arab today euro strength poses headache for eurozone ministers
Last Updated : GMT 14:19:39
Arab Today, arab today
Arab Today, arab today

Euro strength poses headache for eurozone ministers

Arab Today, arab today

Arab Today, arab today Euro strength poses headache for eurozone ministers

Brussels - AFP

Dutch Finance Minister Jeroen Dijsselbloem holds his first eurozone meeting Monday just as hard-won measures to stabilise the bloc pose a different problem -- a strong euro dampening the economy. The debt crisis Dijsselbloem inherits has eased greatly since the European Central Bank vowed last year to intervene in the markets to tame borrowing costs and EU leaders agreed tough steps to bolster the euro\'s defences. But after months when it seemed the single currency\'s future was in doubt, the euro has now risen sharply, sparking fears it could make eurozone exports less competitive and so undercut badly needed growth. France especially has voiced its concerns as Japan, a major EU trading partner, forces down the yen to make its exports cheaper. French Finance Minister Pierre Moscovici called last week for a debate on the euro\'s exchange rate and wants the eurozone to consider setting a target level, which the ECB would then have to defend. Markets cannot be relied on to determine a fair value for the euro, French President Francois Hollande argues. But Germany, Europe\'s paymaster, and the ECB are uncomfortable with such talk given that the central bank\'s mandate is to ensure price stability, not manage the forex markets. Many analysts noted how a cautious ECB head Mario Draghi tried to \'talk down\' the euro last week with very guarded comments on the economic outlook And to some extent he succeeded. Several of the eurozone finance ministers will likely be taking up the issue again later in the week when the Group of 20 meets in Moscow and as the subject moves up the international agenda amid fresh talk of a \"currency war.\" Dijsselbloem has several other difficult issues on his plate: a Cyprus debt bailout, continued weak growth and political uncertainty ahead of elections in Italy and Germany. Cyprus, which also goes to the polls shortly, has asked for help to the tune of some 17 billion euros, equal to its annual economic output, but there are deep misgivings about its banking system and money laundering. If the sums involved are relatively small -- Greece needed some 240 billion euros in direct aid -- letting Cyprus fail could badly compromise the credibility of the euro, threatening the recent progress made. An EU official said Monday\'s meeting would review the situation but no accord is expected until a new Cypriot government is formed in March. Ministers will likely also review progress on the key measures agreed last year -- a single regulator for the banks and the working of the European Stability Mechanism, the bloc\'s defence back-stop. Officials say ministers will also honour respected former eurogroup head Jean-Claude Juncker of Luxembourg who served for eight years, stepping down in January after overseeing a difficult overhaul of the euro\'s shaky foundations. The 17 eurozone finance ministers are joined by their 10 non-eurozone colleagues for a meeting on Tuesday.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro strength poses headache for eurozone ministers Arab Today, arab today euro strength poses headache for eurozone ministers

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum

GMT 10:20 2017 Thursday ,16 February

New Zealand's Spark rings up interim profit rise

GMT 05:40 2017 Thursday ,16 February

Stocks rise on Yellen’s positive US outlook

GMT 05:34 2017 Thursday ,16 February

‘Protectionism, populism threaten euro zone’

GMT 04:51 2017 Thursday ,16 February

Oil pulls back after brief rally
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday