BERLIN Feb 15 German Finance Minister Wolfgang
Schaeuble said on Friday exchange rates should reflect market
conditions and he believed the Group of 20 would take the same
position on currency exchange rates as that already expressed by
the Group of Seven.
He said he was not concerned about competitive devaluation
because the G7, which includes Japan, had agreed ahead of the
Moscow meeting that they opposed state intervention.
"We don't want government intervention in exchange rates. We
want market-orientated exchange rates, which of course develop
constantly and thereby avoid too much volatility and at the
moment we can say that is working," Schaeuble told Germany's