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."
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