De Gucht not worried by plummeting Euro

The European Trade Commissioner, the Fleming Karel De Gucht, has said in an interview with the German daily ‘Süddeutsche Zeitung’ that the fall in the value of the Euro against the Dollar doesn’t give him great cause for concern. The value of the European single currency has fallen in recent days as a result of the crisis in Greece.

Mr De Gucht told the paper that “In normal circumstances we would all be most satisfied with the current rate of exchange.”

“The fall is good for Europe’s exports.”

“A rate of exchange of between 1.50 and 1.60 Dollars per Euro is not good for trade in Europe.”

The Flemish liberal believes that the economic problems in Greece could have far more serious consequences than a fall in the value of the Euro against the Dollar.

Mr De Gucht says that everything possible must be done to prevent what he describes as “a revolutionary climate” being allowed to develop in Greece.

The EU Trade Commissioners points to Wednesday’s tragic events in Athens when three bank clerks were burned alive after demonstrators petrol bombed the bank in which they were working.

The Euro opened at a new low point against the Dollar on Thursday morning.