Published: Fri, 13 Feb 2009 18:30:44 +0100
Eurogroup's Juncker Speaks Out Against Forex Volatility Ahead of G7
(CEP News) - Eurogroup chairman Jean-Claude Juncker spoke out against volatility in currency markets on Friday, calling the movements unwelcome.
Speaking in Rome ahead of this weekend's G7 meeting of finance ministers and central bankers, Juncker touched on euro zone growth prospects. He said the drop in German, Italian and euro zone fourth-quarter GDP growth revealed on Thursday was to be expected, but that it still highlights the severity of the current economic crisis.Looking ahead, he forecasts a return to growth by the fourth quarter of 2009, with continuing improvement in 2010.
By Megan Ainscow, mainscow@economicnews.ca, edited by Stephen Huebl, shuebl@economicnews.ca
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