Siemens CEO Calls for Action to Brake Euro | Business| Economy and finance news from a German perspective | DW | 19.11.2004
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Siemens CEO Calls for Action to Brake Euro

The head of German engineering giant Siemens called Friday for concrete action to curb the rise in the euro, which he said was weighing on his company's results. "It is a problem, our products have risen in price by around 30 percent in recent months," Siemens chief executive officer Heinrich von Pierer told the business daily Handelsblatt in an interview. "Europeans must make it clear once and for all that we don't want to have a further rise in the euro." Von Pierer's comments came as the central bank chiefs and finance ministers of the world's 20 most powerful nations were scheduled to meet in Berlin at the weekend. While exchange rates and the strength of the euro in particular were not officially on the agenda of the G20 talks, the issue was nevertheless expected to dominate discussions. (AFP)

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