The German government has moved quickly to shoot down a plea by French President Francois Hollande for the EU to agree measures to control the euro's exchange rate.
Government spokesman, Steffen Seibert, said Wednesday (6 February) that Angela Merkel's administration would not support a move away from the euro's floating exchange rate.
"We are convinced that exchange rates reflect the economic fundamentals, especially flexible ones. We are open to a discussion with France about it...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.