The strength of the euro is forcing European companies to step up cost-cutting to compete with rivals from the US and elsewhere amid fears that it could slow their recovery when demand picks up, the FT reported. Economists are concerned that, even when demand recovers, the strong currency will penalise European groups, many of them reliant on exports.

This entry was posted by Stacy-Marie Ishmael on Monday, July 6th, 2009 at 4:44 and is filed under Capital markets. Tagged with euro, europe. Edit this entry.