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News > International
Fabius: 'Europe is strong'
January 26, 2001: 3:02 p.m. ET

French finance minister says US slowdown won't hurt Europe
By Rod Cant CNN.com Europe business writer
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DAVOS, Switzerland (CNNfn) - French finance minister Laurent Fabius shrugged off any threat to the Europe from the looming slowdown in the United States on Friday.

Speaking to CNN Fabius said he thought the US economy would not get into serious trouble, and "if the US economic landing is soft there will be no consequences (for Europe)."

He warned that a sharp slowdown in the United States could be more problematic for Europe, however.

Fabius, interviewed at the World Economic Forum in Davos, Switzerland, predicted euro-zone growth of around 3 percent in 2001, and said France would perform particularly strongly among the 12 countries which make up the single currency bloc.

He reiterated his persistent backing for the euro, and predicted that parity with the dollar would not be far off.

Fabius also spoke warmly of his friendship with German counterpart Hans Eichel, describing their relationship as "excellent."

"The relationship between France and Germany will remain the basis of the development of Europe," he told CNN. graphic




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