BERLIN Feb 13 The European Central Bank never
tries to manipulate the euro exchange rate to achieve trade or
competitive policy goals, French Finance Minister Michel Sapin
said in an interview published Monday, rejecting claims by a key
U.S. official who said Germany used a "grossly undervalued" euro
for its own gain.
"The euro is the currency of the entire euro zone. On the
international level what counts is the surplus of the entire
eurozone, not that of Germany," Sapin told the Handelsblatt
Sapin said Europe still needed to restore investments to
levels seen before the global financial crisis, and said Germany
could be more "ambitious" about its investment levels, for its
own sake and that of Europe.
He also said he hoped that U.S. President Donald Trump would
understand quickly how advantageous and important ties with the
European Union were for the well-being of the United States.
(Reporting by Andrea Shalal; Editing by Paul Carrel)