@ Watch the strong euro situation carefully@(November 20th, 2007)

November 15th (Thursday) the Nikkei (Japan Economic Newspaper)


In EU finance ministers meeting on 12th and 13th, many ministerfs opinion were that they want contain the sharp rising of euro. Jean-Claude Juncker; Luxembourgfs prime and finance minister said, gRecent sharp moves in foreign exchange rates are unwelcome.h And he showed that he watched the euro rate movement that is in highest rate to US dollar. In finance ministers meeting, they agreed the line gWatch the exchange rate situation carefully.h

Euro market raised 1 euro = 1.47 dollar for a while at the beginning of this month because of fears of the USA economy slowdown.

In EU finance ministers meeting Pedro Solbes, finance minister of Spain, said, gThe euro market level is too high and it is certain we have some fears of excess fluctuation.h UNICE (Union of Industrial and Employers' Confederations of Europe) appeals to the euro area, gThe present strong euro is at the limit of Europe companies.h

More over ministers agreed that they press China to let its currency strengthen. Juncker prime minister said, gChina has a growing responsibility as far as international monetary policy is concerned.h, and also he told us we would like to talk about the Yuan reform with China government when he will go to China in the middle of this month.

EU the trade deficit with China in this year is expanding that is higher that last year that was the highest, and many people want a correction of international imbalance in Europe.