Rehn warns on threat from strong euro

Europe’s fledgling economic recovery could suffer if the euro is undercut by other currencies, Olli Rehn, European Commissioner for economic and monetary affairs warned in October 2010 as China rebuffed fresh pleas to allow the renminbi to strengthen.

European policymakers are increasingly voicing concern as the euro strengthens against the dollar and, by extension, the renminbi, placing manufacturers at a disadvantage. Adding to their concern, Japan, South Korea and Brazil have also moved to hold down their currencies.

EUObserver, 5.10.10: Europe steps up pressure over renminbi http://euobserver.com/9/30963

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