French PM says no need to worry about weak euro

15:05, June 05, 2010      

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Prime Minister Francios Fillon said Friday that he was not worried about a weak euro, trying to eliminate concerns over an ongoing devaluation of the euro against the dollar.

At a joint conference with his visiting Canadian counterpart Stephen Harper, Fillion said that he wasn't worried about the declining euro, which dwindled down to 1.21 dollars in morning trade, the lowest level since April 2006.

"I have already mentioned in occasions that I only saw good news in the parity between the euro and the dollar. I have not changed my remarks," Fillion told reporters.

"For years, with the president of the Republic (Nicolas Sarkozy), we complain about the fact that the disparity between the euro and the dollar didn't reflect the reality of our economy and disadvantage our exportation," he said.

With the devaluation of the euro, France's exports rose 3.9 percent in the first quarter of 2010, according to the French national statistics bureau Insee.

The Finance Ministry has also predicted that a 10-percent depreciation of the euro would add 0.7 percent to the country's GDP, while analysts and economists thought the number was 0.5 or 0.4 percent.

Source: Xinhua


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