ECB's Issing not worried by euro rise - Report

Rather than being overvalued the euro is in European Central Bank chief economist Otmar Issing's view "above all" a correction of its previous undervaluation.

Source: Reuters

European Central Bank chief economist Otmar Issing was quoted in a magazine interview on Saturday 14 June describing the rise in the euro single currency to date as a "correction" of its previous undervaluation.

"We said then (two years ago) that in our view the euro was clearly undervalued. In that sense, what we have seen