French Finance Minister Christine Lagarde said the euro is a strong currency and leaders in the euro area are committed to keeping it “alive, strong and kicking.”
“We have taken steps within euro-zone to address this issue with massive funding and what our leaders have said is that we shall defend the euro,” Lagarde said in a speech to industry chambers in New Delhi today. “We are keen to keep the monetary zone and the currency strong, alive and kicking.”
The euro halted a three-session rally today, dipping 0.5 percent to $1.3344 as of 7:01 a.m. in Frankfurt. For the year, it has fallen 6.8 percent, following a gain of 2.51 percent in 2009.