By Prensa Latina
Brussels : Jean Claude Juncker, president of the Eurogroup said Thursday at the opening of the European leaders summit that the imminent economic recession in the US has over appreciated the single European currency.
Juncker indicated they are closely monitoring the records established by the euro over the past weeks, fact which alarms leaders and businesspeople of the group.
The also Finance minister and head of government of Luxembourg underlined that the planet´s number one economy is at the doors of recession, although the event is getting closer by the day.
Before global turbulences characterized this Thursday by a new descent in the stock exchanges and another maximum rate for the euro, which reached 1.56 dollars, the official confirmed the negative impact for the Eurozone.
He referred to the excessive volatility of the capital market and the depreciation of the US dollar. Washington does not pretend to act in order to revaluate its currency, he added.
The European Minister thinks the Federal Reserve may take a joint action with the leading central banks of the world, although he admitted that the dollar weakness helps that country´s exports in face of economic slowdown.
The European Commission has just reviewed down the forecast on growth for 2008 by 1.8 percent, compared to the 2.3 percent expected last November.