The G20 concerned about Greece and the exchange rate – L’Express

The G20 raises his voice. At a meeting in Washington on Friday, the Ministers of Finance and central bankers of the top twenty global economic powers have set limits to Greece, summoned to undertake reforms in exchange for international aid, and expressed concerns about the slippages exchange rates.

In a message clearly intended to markets and the euro area partners, the French Finance Minister Michel Sapin called for a “stability” of the euro at its current level. He said that “if we (note: the Europeans) had wanted to, or if we left thinking we wanted to go further in the decrease in the value of the euro, then we would be back in a danger zone.” In the statement issued after the meeting of the G20 finance officials are worried openly about “volatility” of the exchange rate, called a “challenge” to the global economy. An official message that does not mention the negotiations in Greece, the subject was not meeting program has yet been widely discussed.

Concern for the global economy

But to believe the German finance minister, Wolfgang Schäuble, the discussions between the country and its international creditors hardly advance . “There is nothing new. And I’m not sure we will have the new” at a meeting of finance ministers of the euro area on April 24 in Riga, he warned. Athens must be approved by its partners a list of reforms in order to reach an aid of 7.2 billion euros. Greek officials and international creditors are found about it in Paris from Saturday.

For the US Treasury Secretary Jack Lew, “do not reach agreement would create immediate problems for Greece and uncertainties for Europe and the world economy as a whole.” While judging “ruled that Greece so” in the euro area, Michel Sapin has estimated that such a scenario would present a particular “political” risk to the future of the monetary union, but that, in economic terms, “the danger was not of the same nature “than previous critical episodes in 2010 and 2012. The suspense should last at least until the next meeting of ministers on May 11

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