The President of France thinks he can have his cake and eat it too. He called on government leaders to agree on a target for the euro’s exchange rate over the medium-term, warning that the rising currency may deepen the recession. That much is true. He also said:
“The eurozone must, through its heads of state and government decide on a medium-term exchange rate”.
“We can’t let the euro fluctuate according to the mood of the market.”