Recently on the foreign exchange market fluctuations and export weaken the value of the euro rising risk, are discussed in the meeting of European Union finance ministers Tuesday's meeting of the world's leading industrial and developing economies.
On February 15 to 16 in Moscow twenty countries group meeting of finance ministers in this group is expected to provide a large number of exchange rate "money war" threat. Said recently in Europe already have fear value rise, euro against other currencies, such as the Japanese yen, the region's exports more expensive, so as to keep any economic recovery.
However, in an attempt to quell these problems, and the group of seven leading industrial countries - including the United States, Japan and European France, Germany and Italy - issued a statement must be their promises exchange price by the market and not sure the policy of the government.
Said: "we all agree that the exchange rate over fluctuation and disordered change on economic and financial stability produce adverse effect," G - 7 said in a statement released Tuesday: the bank of England on the website. "We will continue to foreign exchange market in close consultation, and discretionary cooperation."
Recently on the foreign exchange market fluctuation has been the product development, influence the yen, the dollar fell Monday since 2010, the lowest since may. Although the Japanese government have no direct intervention, the value of the yen, it in motion a series of economic policy, such as higher 2% target, many market participants believe that Japan's inflation will lead to more money in Japan to create.
At the same time, the influence of the policy, has been the euro's rise. Current share price has been higher than the $1.30 mark, many politicians and enterprise considered fair value. Higher rate, let the life may be more difficult, exporters and USES the euro 17 eu countries may hinder economic recovery. Diagram later in the week may be confirmed that the economy of the euro area in the last three months of 2012 recession.
Monument securities market strategists marc ostwald, G - 7 statement, it is suggested that the G - and the aim of the meeting was to close watch foreign exchange transactions.
However, he said places, such as Japan's domestic policy spillover effect, into the foreign exchange market, "so people may think that this is a case, can not see the wood for trees".
Arrived at the day of the 27-nation European Union finance ministers' meeting, Irish Treasury secretary Michael noonan said there is nothing to discuss G - and the discussion of the meeting. Some European Union finance ministers' meeting, including from France, Germany, Italy and Spain will travel to Moscow. The European Union also will be there.
, "noonan said:" I think all this debate the relative value of currency in G - and is a problem, but we came through a period of time, the euro is concerned about the fluctuations. "This is a bit soon think it is too strong."
Noonan said he would not support any Suggestions, the European central bank should intervene in the market, the value of the euro.
However, there are more and more worry, may be in brewing a currency war. This conversation lets a person associate to the 1930 s, when the country is in in the needle front facies to reach currencies - the result is to destroy the world trade and prolong a recession.
The French finance minister Pierre's Moscow had said some discomfort in recent euro appreciation. However, he in Tuesday's meeting, he said, his first priority is to ensure that Europe will not keep the lasting "area? Low growth and high unemployment.
He said, people need to balance policy for fiscal consolidation, and the rest of the consciousness to the influence of deflation. He added that the G twenty, can be BBS global coordination.



Other News:
EU ministers debate currencies as G7 gives warning
Likely Treasury chief Lew faces early budget tests
Ahead of the Bell: US Retail Sales
Michelin profits rise despite tough car market
Peugeot Citroen posts $6.7 billion loss for 2012
Obama urges Congress to make government work for ＂the many＂
Japan's Nikkei jumps on weaker yen
Courts upholds $28 million award in Skywalk case