German FinMin Optimistic About French Making Reasonable Decision on Sunday

Germany’s finance minister has played down concerns over the impact of the upcoming French election on the euro.

The common currency has been on an uncertain path due to the unpredictability of the presidential vote this Sunday, but according to Wolfgang Schaeuble, the euro “can survive.”

“I’m quite optimistic and I think the French people will take a reasonable decision. That means a decision that allows, so the euro can survive,” Wolfgang Schaeuble, finance minister of Germany told CNBC on the sidelines of IMF-World Bank spring meeting in Washington.

The euro was trading at $1.0726 on Friday morning, up by 0.1 percent.

With two of the main frontrunners campaigning against the common currency and pledging extra spending, investors are worried about France’s economic future, but mostly about the stability of the euro zone and the European Union.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza