The evolution of the euro exchange rate was consistent with expectations of experts and this week broke the barrier of 1.50 USD, the highest level reached since 2008. However, not all good news, the eurozone countries and the European Central Bank (ECB) expressed concern about the strong euro hurts exporters because community and jeopardizes recovery. Excess volatility and disorderly movements in exchange rates have adverse consequences for economic and financial stability, said the ECB President Jean-Claude Trichet. The eurozone needs to progress and exit from the crisis of a sound and stable financial system, as Trichet said that to succeed, "shares" the statements by U.S. authorities for a "strong dollar". The value of the euro

is in the crosshairs of the Committee on Economic Affairs. This committee will meet on 3 November in Brussels, where he discussed the exchange rate policy. According to experts fear the dollar not strengthened, the European states should continue with the consolidation and fiscal stimulus policies (so-called Stability and Growth Pact) and forget about exit strategies planned for 2011.