Euro appreciates on Barroso 8217 s plans for the single currency
The euro has appreciated against the pound and dollar as Jose Manuel Barroso’s plans for the eurozone are announced.
The euro has appreciated against the pound and dollar as Jose Manuel Barroso’s plans for the eurozone are announced.
The euro has appreciated in forex training this afternoon following Jose Manuel Barroso's announcement of his plans for the single currency and the future of the 17-nation bloc.
Among the European Commission's proposals are the notion of separating the eurozone budget and implementing the joint issuance of debt – a matter Germany is strongly opposed to.
The plan to underpin the euro looks at the coming five years and beyond and in the short-term Mr Barroso aims to set up a new fund inside the European Union budget to speed up the crucial eurozone structural reforms.
He stated: "We need a deep and genuine Economic and Monetary Union in order to overcome the crisis of confidence that is hurting our economies and our citizens' livelihoods."
At 14:35 GMT, the euro had appreciated by 0.2 per cent in forex trading with the pound and by 0.3 per cent versus the dollar, so €1 now buys £0.810 and $1.299.
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