5 June 2001, 17:49  ECOFIN Fabius says euro zone economic woes 'accentuated by level of euro'

LUXEMBOURG (AFX) - French Finance Minister Laurent Fabius said the euro zone's economic problems are "accentuated by the level of euro." Speaking at the end of the EU finance ministers' meeting, Fabius pointed in particular to the prospect of rising oil prices, which he decsribed as "a supplementary handicap" for the euro zone. However, he declined to say whether the European Central Bank should intervene to support the flagging euro. He also said the economic slowdown in the euro zone is now incontrovertible, and that governments "need to stay highly vigilant in the face of international uncertainty."

© 1999-2024 Forex EuroClub
All rights reserved