Solbes confident of euro stability

Speaking Tuesday 20 January, Pedro Solbes, the EU's monetary affairs commissioner, said he believes the euro will not rise excessively, following EU ministers warning of dangers amid a record rise in the currency's value.

"We do not expect excessive rate movements," Solbes told reporters after ministers from the 12-nation eurogroup agreed a statement Monday warning against such moves.

"Yesterday we sent the message of the Council (of EU ministers), the (European Central) bank and the (European)