E.U. ministers say euro doesn’t hurt growth

BERLIN – The euro’s two-year high against the dollar is not hurting the economies of Europe, euro-zone finance ministers said today.

“The euro [has] appreciated gradually, so I see no reason for panic,” Luxembourg Finance Minister Jean-Claude Juncker told Bloomberg News in Berlin, where he is chairing a euro-zone meeting of his counterparts from the 13-nation euro zone.

With Europe last year showing its fastest rate of growth since 2000, and continuing to grow this year, the European Central Bank has kept raising interest rates, while the U.S. Federal Reserve Board has been holding the line since June. Still, the euro zone’s exports continue to rise.

“I am following it with great interest, but not concern,” Spanish Economy Minister Pedro Solbes said at the meeting today in Berlin. Deputy Austrian Finance Minister Christoph Matznetter said, “Why should I be worried about it? The euro developed since the ’90s as a stable currency. It’s not the task of politicians to steer exchange rates.”

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