A weaker euro “is good news for Europe” because of the boost it gives exports, French President Nicolas Sarkozy said.
Sarkozy said increasing contacts between the European Central Bank and euro-zone governments to coordinate policies wouldn’t hurt the central bank’s independence. “Do you know that officials from the Fed lunch regularly with members of the U.S. government,” he asked in an interview on France Inter radio. “All I ask is they talk.”
He said that action by the ECB can’t replace steps to cut debt. “If the ECB’s efforts are ever seen as a chance to avoid our responsibilities, then the ECB will never act,” he said.