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.