Eurozone finance ministers have agreed to put the thorny question of the euro’s value to the G20 meeting in Moscow later this week.
Finance ministers and central bankers from the world’s biggest 20 economies will meet there on Friday and Saturday.
The single currency has risen sharply in recent months, and France and Germany disagree over what to do about it.
The French want the European Central Bank to consider setting a target for the euro, bringing it down when it gets too high.
In Brussels the French finance minister Pierre Moscovici repeated the message, calling for “strong action”.
“We must ensure we curb stock price volatility or erratic movements that have a lasting negative effect on the economy if they carry on… we need a co-ordinated approach,” he said.
The call appeared to win little support. Germany is opposed to interference in exchange rate policy.
“We will push this at the G20 meeting in Moscow within the G20 framework. The exchange rate problems don’t only exist in and with the euro but there are concerns with other big currencies,” said German Finance Minister Wolfgang Schäuble.
A stronger euro hurts exports because it makes them more expensive abroad. France is said to be particularly sensitive. Moscovici has warned that if the euro continued to appreciate at the current rate, it would take 0.3 percentage points off the country’s economic growth.
This comes as the eurozone is pinning its hopes on demand from Asia and America to drag it out of its second recession since 2009.
- 1Poland ‘has located’ buried Nazi treasure train
- 2Tropical Storm Erika threatens Haiti and Dominican Republic with mud slides
- 3Germany wants camps in Italy, Greece, Turkey to sort through migrants seeking asylum
- 4Exclusive: EU should create immigrant processing centre in Turkey, says German minister
- 5New York: toplessness in Times Square could change forever
- 1‘Dude, I tried to shoot him’: video shows moments after train attack in France
- 2Virginia:TV journalist and cameraman shot dead live on air
- 3New York: toplessness in Times Square could change forever
- 4US shootings: suspect dies of gunshot wounds
- 5UK: at least 7 dead, ‘more bodies may be found’ after Shoreham plane crash
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International breaking news | euronews online world breaking news in video
- 3Caught red-handed: the Russian Major fighting in Ukraine
- 4Video footage shows massive explosion in Tianjin, China
- 5International news | euronews, latest international news
- 6Ukraine puts top Russian general Gerasimov on ‘most wanted’ list
- 7Latest News Bulletin
- 8Snowden, Assange and Manning statues unveiled in Berlin
- 9Who came out top in the US Republican television debate?
- 10Why World Elephant Day matters
- 11UK: at least 7 dead after plane crashes into road in Brighton
- 12Virginia:TV journalist and cameraman shot dead live on air
- 13ISIL militant group claims to have killed Croatian hostage in Egypt
- 14Earth Overshoot Day…Pushing Mother Nature too far
- 15Windows 10, three weeks on: the good, the bad and the ugly
- 16Bringing the trolls out of the dark: Russian ‘troll’ awarded 1 rouble damages
- 17As ‘Daily Show’ Jon Stewart’s tenure ends, scholars say goodbye to their research topic
- 18Momentum for Mars: Astronauts say mission is inevitable
- 19Scientists find sinkhole cave under Mexico’s Kukulkan Castle Pyramid
- 20Migrant crisis pushing Greek island of Kos to the limit
Latest world news
Tropical Storm Erika threatens Haiti and Dominican Republic with mud slides
Turkey: President approves interim cabinet
Suspected people traffickers accused of murder – a first in Italian legal history
Poland ‘has located’ buried Nazi treasure train
Hurricane Katrina: Bush goes back to New Orleans
Wires > News
- 06:29 CET Weekend of protests set to pile pressure on Malaysia’s PM
- 06:10 CET Pensioner killed in Venezuela supermarket melee, opposition says
- 02:05 CET Libyan drownings, lorry of corpses drive up migrant toll
- 23:59 CET Venezuela’s Maduro to visit China, Vietnam for finance deals
- 23:38 CET U.S. F-22 fighter jets arrive in Germany for training deployment
- 22:06 CET U.S.‘s Biden speaks with Ukrainian President Poroshenko about…
- 21:53 CET Policeman killed by blast in Bahrain village – interior ministry
- 21:20 CET Greek poll shows Syriza leftists leading conservatives