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Thursday, June 11, 1998
"Euro can fetch better price for exports"
PTI
NEW DELHI, June 10: The European single currency, Euro, can help India get better prices for its exports, a top European Commission official said. "For countries such as India, the single currency will help negotiate a better price for its exports," director, financial operations, European Commission, Paul Goldschmidt said at round table on "Economic and Monetary Union - a challenge and opportunity" here today.Euro as an international currency will offer a option to diversify risks Goldshmidt said adding it would also help bring down risks against the US dollar and lower tariff barriers.Stating that the European Central Bank (ECB) working will be free from political interference, he said adding, there will, however, be "necessary and appropriate" political intervention in nomination of ECB board members.One o f the prime objectives of the ECB is to maintain internal price stability and presently the Union is confronted with questions like whether Euro would become a reserve currency and its implications onglobal markets. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.

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