France Asks for More ECB Action to Weaken Overvalued Euro
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French Prime Minister Manuel Valls called for more action from the European Central Bank to lower the value of the euro, amid concerns the 18-nation region might be headed toward deflation.
“The monetary policy has started to change,” Valls said yesterday in a speech at the Socialist Party’s summer school in La Rochelle, France. While he called the ECB’s package of measures taken in June a “strong signal,” he said that “one will have to go even further.”