Austria sees no need to artificially lower euro exchange rate

BRUSSELS: There is no need to artificially weaken the euro, Austrian Finance Minister Maria Fekter told reporters after her French counterpart called for a discussion on the strengthening of the currency at a meeting on Monday.

Finance ministers from the 17 countries using the euro, as well as the President of the European Central Bank Mario Draghi, meet in Brussels at 1400 GMT. France wants the euro exchange rate to be on the agenda.

"This is mainly decided by the market," Fekter said in response to a question on the euro strength.

"I find an artificial weakening unnecessary. We are in a good way now," she said. "In my view the excitement about the euro is unjustified right now."