Strong euro a "considerable problem": Sarkozy
www.chinaview.cn 2010-01-07 08:07:25   Print

    PARIS, Jan. 6 (Xinhua) -- The "monetary disparity" between the U.S. dollar and the euro was a "considerable problem" for companies in the euro zone, French President Nicolas Sarkozy said on Wednesday in western France.

    For companies producing in the euro zone and doing sales in the dollar region, the strong euro and the falling dollar made a significant obstacle to forge competitiveness, Sarkozy said at a reception meeting with business leaders in the western town Cholet.

    The currency issue "should be center of the international economic debates" in 2010, Sarkozy said.

    The euro, shared in 16 European nations, was trading close to 1.44 U.S. dollars at 2300 GMT on Wednesday.

    On Dec. 1, Sarkozy has complained about the disparity between the two currencies as he said a new international monetary system was required. As to the new system, it should be a "multi monetary" one that conforms with the "multi polar world," the president stressed.

    Over 2009, the highest currency rate for euro/dollar was 0.78 in February and the lowest was in November at 0.67.

Special Report:  Global Financial Crisis

 

Editor: Lin Zhi
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