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CERNOBBIO, June 14: European Central Bank (ECB) board member Tommaso Padoa-Schioppa said on Saturday the current euro-dollar exchange rate does not raise serious concern as it is within the long-term average.
The euro has recently been surging against the US dollar, triggering fears that too strong a euro would undermine the EU economy, making it less competitive with the US.
I see a lot of concern (about the euro-dollar) exchange rate today, Padoa-Schioppa said during a conference on US and Italian economic relations.
The exchange rate does not raise serious concern. The current exchange rate is on the long-term average, he said.—Reuters
