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Germany to warn against intervention
in favour of U.S. dollar
Thomson
Financial
Monday, April 7, 2008
The German finance ministry plans to warn against
intervention in favour of the U.S. dollar at the forthcoming G7
meeting, Der Spiegel reported, citing an internal draft ahead
of the talks.
The ministry's experts believe verbal interventions that talk
up a currency are inefficient, the magazine said.
It said interventions on the international capital markets to
back the U.S. dollar could not be financed if they are to reach
a volume that has an impact. The ministry also sees a cut in interest
rates in the euro zone as "highly unlikely" given the
current high levels of inflation in the region.
The G7's finance ministers and central bank presidents are set
to meet at the end of this week in Washington.
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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