French president calls for euro exchange rate policy


French president François Hollande today called for Europe's legislators to consider an exchange rate policy to set the value of the euro at a level reflective of the real state of the eurozone economy – and one that is not vulnerable to the whims of the marketplace.

Addressing the European Parliament in Strasbourg, France, Hollande decried leaving Europe's currency vulnerable to "irrational" market developments in either direction – saying a monetary zone "must have an exchange policy" or risk

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