Exporters in the EU suffer from strong Euro

Exporters in the EU suffer from strong Euro

The strengthening Euro is putting Germany under pressure, a country where the economy is mainly based on exports. According to latest press reports, Germany is sending messages to the European Central Bank to intervene in the course of this strengthening. Exporters in the Euro zone are complaining about he appreciation of Euro against US dollars, as this situation increases the world prices of European products. The European Central Bank decided not to go for a reduction in the interest rates, during the last week's meeting. The higher than US interest rates in the Euro zone is seen to be the major reason for the strengthening of Euro.