European employers greets the fall of the euro

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European employers greeted Monday the fall of the euro vis-a-vis the dollar, considered to be “positive” for the European exporters, but regretted the important volatility of foreign exchange rates.

The current fall of the euro “is obviously positive”, it is “positive for exports”, declared the managing director of European employers' association BusinessEurope, Philippe de Buck, at the time of a press conference. ( Finance Information City )

The euro touched Monday one low to 1,2334 dollar, and passed for the first time since April 26, 2006 under 1,24 dollar, because of persistent fears of recession and movements of repatriation of funds supporting the green ticket

One year ago, European employers had estimated that the euro had reached “a painful level for the european companies”, when it had exceeded the threshold of 1,40 dollar.

But since its record of last July 15, to 1,6038 dollar, the euro did not cease moving back and lost nearly a quarter of its value.

We greet the depreciation of the euro compared to the levels which it had reached front, which was too high ", underlined the economist chief of BusinessEurope, Marc Stocker.

But, it moderated, “we do not know if foreign exchange rate will remain on this level”. “There is much volatility, and this volatility is a problem for the companies.”

“What is very important, it is to stabilize the situation of foreign exchange rates, so that we see there a little more clearly”, he added.