Eurozone nations: common currency is ’credible’

BRUSSELS (AP) — Eurozone finance ministers say Europe’s currency union is “credible” and the region won’t see rapid price hikes despite the euro’s recent slide against the euro.

Jean-Claude Juncker, who led ministers’ talks Monday, said “we trust that the euro is a credible currency” after it hit a four-year low against the dollar earlier in the day.

He says the 16 countries that use the euro believe that price stability “will be maintained in years to come” as a major asset for Europeans and for investors.

Some market traders worry of far higher inflation across the eurozone after governments offered to bail out debt-burdened nations and the European Central Bank said it would buy government bonds — which some see as printing money.

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