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Italy's Monti says strong euro could hurt exports, sees no forex "war"
January 25, 2013 / 9:12 AM / 5 years ago

Italy's Monti says strong euro could hurt exports, sees no forex "war"

Italy's Prime Minister Mario Monti speaks during the annual meeting of the World Economic Forum (WEF) in Davos January 24, 2013. REUTERS/Pascal Lauener

ROME (Reuters) - Italian Prime Minister Mario Monti warned on Friday that a stronger euro could hurt exports but he brushed off talk of a foreign exchange “war” between major currency blocs.

“There are certainly currency tensions. It seems exaggerated to me to talk about a currency war,” he told Italy’s RAI radio.

“As far the risk that an excessively strong euro could harm exports of European countries, there’s certainly that risk to a certain extent,” he said.

However, he said that Germany’s experience before the creation of the euro showed that it was possible for a country to be a major exporter even with a strong currency and said Italy needed to improve its competitiveness.

Reporting By James Mackenzie

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