Trichet on the international role of the euro

In a speech on 'The international role of the euro' given on 14 May, Jean-Claude Trichet of the ECB said the position on currency developments spelled out in the last two G-7 communiques in February and April remains valid.

In a speech delivered in Rendsburg-Eckernfoerde, Germany, Trichet said "On the present exchange rates I will only say that the appropriate terms of reference are in the two last communiques of the G-7, in Boca Raton and Washington, where we reiterated exactly the same wording

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