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INTERVIEW OF THE DAY 20.11.2003

Exporters burdened by strong euro but will adjust

https://p.dw.com/p/4Lys

The euro, Europe's common currency soared to record highs on Wednesday nearly exceeding one dollar twenty before settling down to just over a dollar nineteen in late trading.

The currency's new-found vigour is spreading dismay among European businesses and industry, because the eurozone economy is already sluggish and needs outside stimulus to get moving again.

For export-dependent countries like Germany and France, there is the worry that a strong euro could hamper efforts to rein in budget deficits that are already over-extended. So how serious a problem is a strong euro? Greg Benzow put that question to Martin Hüfner, chief economist at Germany’s HypoVereinsbank in Munich.