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"If you talking about competitive devaluation, if you look at yen-euro rate developments in the last few years, the fluctuations are within bounds, you cannot talk about this kind of thing," said finance ministry spokesman Martin Kotthaus.
"We certainly believe the approach in Europe and Germany's tradition with its separation of the Bundesbank (central bank) and the government has been a very good course.
We have had good experiences with this and achieved the right stability.
These discussions are rather something for the G20 or G7," he said.