German finance minister Wolfgang Schäuble has blamed the European Central Bank for an exchange rate that is “too low” for Germany, following criticism last week from US president Donald Trump’s top trade adviser. “The euro exchange rate is, strictly speaking, too low for the German economy’s competitive position.” Source: FT
The European and global economic environment has become more threatening for France in recent months, with the recession in Italy a particularly serious concern, the French finance minister said. Source Bloomberg
Turkey is about to start offshore drilling with two vessels around the island of Cyprus, Turkish foreign minister said on Feb. 21. “Let those who come to the region from far away, and their companies, see that nothing can be done in that region without us. Nothing at all can be done in the Mediterranean without Turkey, we will not allow that,” Mevlüt Çavuşoğlu told at an event gathering business people in Turkey’s western Aydın province. Source Daily News
The International Monetary Fund (IMF) will never have a role in the future of the Turkish economy, Turkish President Recep Tayyip Erdoğan has said, also criticizing the main opposition party on the issue. Source Daily News
