Euro now at 'acceptable' level, no longer needs to 'devalue' - Melenchon spokesman


  • World
  • Friday, 21 Apr 2017

LONDON (Reuters) - Contrary to what his manifesto suggests, French far-left presidential candidate Jean-Luc Melenchon now reckons the euro is trading at an "acceptable" level and does not need to be devalued, his economic spokesman says.

In a line that had puzzled some analysts and currency traders, Melenchon promised in his manifesto to "devalue the euro to its initial exchange rate against the dollar" if elected. It would be part of a renegotiation of the terms of France's membership of the European Union.

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