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ultimatepick

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ultimatepick

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Tuesday, 05/29/2007 12:30:32 PM

Tuesday, May 29, 2007 12:30:32 PM

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[16:21 EUR/USD: Sarkozy Proposes USD Peg] Boston, May 29. New French President Sarkozy is on a tear these last few days, beating the EUR like a rented mule. He says he wants to do the same as the Chinese, peg the EUR to the USD. He calls the strength of the EUR artificial and that the strength of the EUR has erased all the productivity gains in the French agriculture sector. "I believe in the independence of the ECB and I believe that currency is a tool to serve growth and employment", he is quoted as saying.

Jamie.Coleman@Thomson.com /rd
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