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Schaeuble Says Money Markets Don’t Understand Euro, FT Reports

Wolfgang Schaeuble, German finance minister, said international financial markets “do not understand the euro,” the Financial Times reported, citing an interview.

The euro has “a common monetary union, but we don’t have a common fiscal policy,” Schaeuble said, according to the newspaper. It’s now necessary to “convince the international public and the international markets that this is a new form, very specific to meeting the demands of the 21st century,” he said.

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