12/02/13 01:36 CET
| updated xx mn ago
| updated at xx
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.
- 1Turkish forces attack Syrian and Kurdish positions in northern Syria
- 2Exclusive: Syria would be ‘chaos’ if Assad ousted, says Medvedev
- 3Syria ceasefire more likely to fail than succeed, says Russian FM
- 4Oh là là – does French ruling mean more nude pictures on Facebook?
- 5Catholic and Russian Orthodox leaders end 1000-year standoff
- 1Oh là là – does French ruling mean more nude pictures on Facebook?
- 2Assad says he will take back “whole country” in interview
- 3‘It’s just not true’ – Russia rejects claims that it’s bombing civilians in Syria
- 4Catholic and Russian Orthodox leaders end 1000-year standoff
- 5Gravitational waves offer ‘a new window on the Universe’
- 1‘Human error responsible’ for deadly Bad Aibling train crash – sources
- 2Leopard enters Indian school, mauls six people
- 3Japanese volcano erupts on nuclear power station island
- 4One of world’s biggest container ships stranded on German river
- 5Einstein was right! Scientists confirm that gravitational waves exist
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International news | euronews, latest international news
- 3Partnering to grow Europe
- 4Madrid to appeal Catalan road to independence from Spain
- 5Hope vs harsh reality: challenges to global education goals in the 21st century
- 6Thousands in Bucharest blame corruption for Friday’s nightclub blaze
- 7Moldova: protesters storm Parliament
- 8Extras : euronews : the latest international news as video on demand
- 9Norway sends Syrian refugees back to Russia
- 10‘National’ funeral for Celine Dion’s husband ‘over the top’
- 11Merroussis clinches the 33rd Athens Authentic Marathon
- 12International breaking news | euronews online world breaking news in video
- 13Jorge Lorenzo clinches his third MotoGP title in Valencia
- 14Benzema questioned in French sex tape case
- 15latest Learning World - All Programmes | euronews : the latest international news as video on demand
- 16Special Reports : euronews : the latest international news as video on demand
- 17world Weather | euronews: world ten day weather forecast
- 18French language revolution in France
- 192015 | archives : euronews
- 20Paris: “I would rather see my brother in prison than in a cemetery”
Latest world news
Skiving worker ordered to pay 27,000 euros to Spanish employer
Russia and US to boost cooperation to implement Syria ceasefire deal, says Kremlin
Turkish military shells Kurdish-backed positions in Syria for second day
British indie band members reported killed in Sweden car crash
Belgian romantics take plunge in sea to celebrate Valentine’s weekend
Wires > News
- 17:40 CET UAE sentences four to death for joining Islamic State – news agency
- 17:36 CET Huge fire engulfs venue at ‘Make in India’ event
- 17:20 CET Record-setting cold chills U.S. Northeast on Valentine’s Day
- 17:17 CET Civilian casualties in Afghanistan hit record high – U.N.
- 16:42 CET Pope to pray for one of Mexico’s poorest, most violent cities
- 16:39 CET Republicans gear up for U.S. Supreme Court battle after Scalia’s…
- 16:26 CET Obama to Putin: cease air campaign on moderate Syrian opposition -…
- 16:18 CET France’s Sarkozy urges party unity, lags behind popular rival