The 11-nation euro zone Monday showed confidence in the weakening single currency as its finance ministers met in a scheduled meeting.

In a statement issued after formal discussion, the euro zone finance ministers said they shared the view with the European Central Bank (ECB) that the euro zone sees robust growth currently which is increasingly rooted in domestic demand.

"As a consequence," said the statement, "the euro has potential for appreciation, firmly based on growth and internal price stability. A strong economy goes along with a strong currency."

Earlier, European Union Finance Commissioner Pedro Solbes said it seemed unnecessary to intervene in the foreign exchange market to bolster the falling euro.

The euro fell as low as 0.9739 against US dollar last Friday, a more than 16-percent drop from its introduction last year. It was introduced into the international market trading with US dollar at 1:1.17.

The euro's latest record dive below the one-dollar mark raised pressure on the ECB to increase interest rates in the coming weeks to curb inflation pressures.

At the meeting, the finance ministers promised to continue fiscal consolidation and make a common commitment to strengthening the structural reform process to ensure a high and non-inflationary level of growth in the euro zone. (Xinhua)