July 1, 2013 / 2:56 PM / in 5 years

EU Commissioner Tajani has his personal view is that euro is too strong

MILAN (Reuters) - European Commission Vice President Antonio Tajani said on Monday the euro was overvalued in general terms and that the currency bloc needed a more active foreign exchange policy.

“The euro is too strong,” said Tajani, who is responsible for industry at the European Union executive.

He emphasized that this was his personal view and that he was not speaking on the behalf of the Commission.

“The common currency is not a goal by itself... We need a central bank able to manage (the currency) like the Federal Reserve does,” Tajani said during a business conference in Milan.

Reporting by Elvira Pollina; writing by Francesca Landini Editing by Jeremy Gaunt.

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