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Ecofin minister discuss French deficit and strong euro


Ecofin minister discuss French deficit and strong euro


European finance ministers meeting in Brussels this week, are due to formally remove the threat of sanctions against France for breaking EU budget rules by running a deficit above 3% of gross domestic product.

Ahead of that meeting, the 13 euro zone ministers gathered and the chairman of the Eurogroup, Luxembourg’s Jean-Claude Juncker, said they are “increasingly worried” about the effect on exports of the strength of the single European currency against the Japanese yen.

The euro-dollar exchange rate also remains a concern, but it has fallen back slightly to around the $1.30 level that ministers and EU officials say they can live with.

The yen is close to a record low against the euro and Europe fears that will make it difficult to sell in Japan and its exports will also suffer from cheap competition from Japan.

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