European Parliament 24 May 2000, WRITTEN QUESTION P-1721/00 by Andrew Duff (ELDR) to the Council. IGC.

The European central bank (ECB) and the Euro-11 Group have clearly stated that the euro has a strong potential for appreciation. While such verbal support has had only limited effect so far, it should be stressed that the ECB, in full accordance with its mandate as set in the EC Treaty, is concerned by the level of the exchange rate only to the extent that it has an impact on inflation.