ECB's Weber not worried on Iran reserves threat

A threat by the Central Bank of Iran to move its foreign exchange reserves out of dollars into other currencies, notably the euro, should not necessarily be a cause for concern, European Central Bank Governing Council member and Bundesbank President Axel Weber said.

Speaking to reporters with German Finance Minister Peer Steinbrueck ahead of the G7 and IMF meetings, Weber said: "I think we should be relatively relaxed", noting that the euro was growing in importance as an international reserve

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