ECB Weber: The Euro Is And Will Remain A Credible Currency

By Johanna Treeck

WASHINGTON (MNI) – The euro is perceived as a credible
international and will remain so in future, European Central Bank
Governing Council member Axel Weber said Monday in an interview with
CNBC.

Asked whether the euro was risk of a collapse, Weber said: ” “No,
there is not such risk.”

“There is of course tension in the fiscal policy framework of some
Eurozone countries but if you look at the perception of the euro in
international financial markets the euro is viewed as a credible
currency,” Weber said.

“The single monetary policy for the euro area is a credible
policy. We have been able for ten years to deliver price stability,”
Weber assterd.

The head of the German Bundesbank said that Eurozone’s near future
is not without challenges and that countries must address fiscal
problems “as we go out of the crisis.”

“I have not doubt whatsoever that we will see the consolidation
over time tht is needed to push the euro forward as a credible currency
also in the future,” he assured.

** Market News International Washington Bureau: 202-371-2121 **

[TOPICS: M$X$$$,M$G$$$,M$$EC$,MT$$$$,MGX$$$]