Wolfgang Schaeuble stressed, that a possible decrease in base interest rate by ECB, won’t have any relief on small and medium enterprises

Germanys Finance Minister, Wolfgang Schaeuble, announced today, that problems, which small and medium business in Euro zone encounters, could not be solved by a simple decrease in the base interest rate by the European Central Bank.

Schaeuble pointed out that problems in the Small and Medium Enterprises (SME) sector could be a result of a business confidence crisis. He also added, that worldwide an excessive amount of liquidity existed, due to central banks policies.

Meanwhile, EUR/USD was trading at 1.2908, while EUR/GBP advanced to 0.8459. In addition, EUR/JPY cross was trading at 131.57.