Eurogroup's Juncker sees no panic on euro

Eurogroup President Jean-Claude Juncker said Friday 20 April there is no is no reason for over concern on the strength of the euro.

Juncker, who is also prime minister and finance minister of Luxembourg, said that the euro had risen "gradually" rather than suddenly.

"There is no reason to panic," he said.

He was speaking in Berlin prior to a meeting of the Ecofin meeting of European Union finance ministers.

"We need greater transparency on hedge funds. We are working on this," he said.