The Minister of Finance of Germany, Wolfgang Schäuble, said yesterday (5) that the current exchange rate of the euro is too low in comparison with the competitiveness of Germany. According to Schäuble, the monetary policies expansion of the European Central Bank pushed the trade surplus of the country to the highest.
In an interview for the Newspaper Tagesspiegel, the minister informed that the European Central Bank should establish appropriate policies for the whole of Europe, as the current are relaxed too much for Germany. He pointed out that he had alerted the president of the European Central Bank, Mario Draghi, when he began to draw up monetary policies expansionary.
The minister warned that Germany does not have the right to adjust the exchange rate policies, therefore, the underestimation for the exchange rate of the euro is not the fault of your country.
Translation: Nina Niu; Review:Tatiana Molina