February 5, 2013 / 12:45 PM / 7 years ago

Germany's Roesler: focus on competitiveness, not forex rate

PARIS, Feb 5 (Reuters) - German Economy Minister Philipp Roesler said on Tuesday that countries must focus on boosting competitiveness and not on cutting the value of their currency, as concerns grow in Paris about the surging euro.

After talks in Paris with French Finance Minister Pierre Moscovici, Roesler told journalists: “The objective must be to improve competitiveness and not to weaken the currency.”

Separately, French President Francois Hollande said at the European Parliament that the euro zone needed an active foreign exchange policy to counter swings in the euro.

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