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3/11/08

DW: German Investors Confident Despite Soaring Euro

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German Investors Confident Despite Soaring Euro

Surprise results from a key investor confidence survey have helped the euro to another all-time high against the dollar. Though the imbalance could hurt the economy, some investors apparently see blue skies ahead.

The euro's rise on foreign exchange markets could endanger economic growth in the euro zone, the European Union's Slovenian presidency said on Tuesday, March 11, as the euro hit a record high just shy of $1.55. "Of course this is a problem that we are witnessing on a daily basis," Slovenia's Finance Minister Andrej Bajuk said in an Internet broadcast. "We have come to the conclusion that these movements may not have a positive effect when it comes to economic growth and development."

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