World Business News

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Weidmann slams devaluation

Zone(s): Europe ¦ Sector(s): Finance
[16 June 2014, CITY A.M.]  Bundesbank chief Jens Weidmann argued this weekend that the European single currency did not need devaluing. Speaking to a German magazine, he argued that the euro area more vitally needed a competitive edge, which devaluation would not help.

The comments go against some of his European Central Bank colleagues, who have expressed concern that the strong euro could hurt the Eurozone.

Source:
www.cityam.com/article/1402894370/weidmann-slams-devaluation