Wednesday, October 3, 2007

The Euro

Ernest-Antoine Seillière, head of Business Europe and former head of MEDEF, has written to Jean-Claude Juncker, president of the Eurogroup, to express the business community's worries about the rising euro. Indeed, the decision by the US Federal Reserve to cut the fed funds rate confronts the European Central Bank with a dilemma: either follow the Fed's lead with a rate cut or allow the euro to appreciate further. In any case, Sarkozy, who preceded Seillière in raising the alarm about the euro, now has an influential ally in his opposition to the banker's consensus.

1 comment:

Anonymous said...

Christine Lagarde, the French Minister for Economy, Finance, and Employment, claims that the State didnt sell one share of EADS stock, though.