ECB's Liebscher on exchange rates

European Central Bank governing council member Klaus Liebscher said Monday 16 April that exchange rates should reflect fundamentals.

"There were some sectors of businesses where you have seen certain price increases," Liebscher said, referring to countries that have adopted the euro, like restaurants and in the service sector, but overall, adoption of the euro has had "a positive result," he said.

"We have seen the latest example in Slovenia," Liebscher, who is also the Governor of Austria's

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