German finance minister says euro fall temporary
The fall in the value of the euro is a worry but the European single currency will stabilise, Germany's finance minister Wolfgang Schaeuble said.
The fall in the value of the euro is a worry but the European single currency will stabilise, Germany's finance minister Wolfgang Schaeuble was quoted as saying by a German newspaper on Sunday.
In an interview with Bild am Sonntag, Schaeuble said the euro's decline would be temporary, adding that Germany needed to consolidate its public finances.
"The depreciation over recent months is obviously a worry, but the euro will stabilise again," he said. "In the mid-term the high deficits at federal, state and local government level must be reduced to prevent inflation."