Current level of euro not a problem: EU's Almunia

Speaking at a European Commission conference on the euro, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said on Monday 11 October that the current level of the euro against the dollar is not a problem.

"Instead, the focus has now shifted towards the likely impact of high oil prices on global growth and inflation," he said Monday.

"We share the prevailing view that the recovery in the euro area and the global economy remains on course, and we do not see the current value of the