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Ireland's Noonan opposes ECB intervention on euro

BRUSSELS (AP) -- Irish Finance Minister Michael Noonan has voiced his opposition to any proposal that the European Central Bank should intervene to get the value of the euro down.

The recent strength of the single currency has caused concern that it may hold back the recovery of the economy of the 17 European Union countries that use the euro.

Arriving for a meeting Tuesday of the 27 EU finance ministers, Noonan says it's a “bit soon” to argue that the euro's value is too strong compared to other currencies, following a period of volatility.

The euro has strengthened recently partly on renewed confidence over the future of the currency but also in response to Japan's desire to get the yen down. This has stoked talk of a currency war.

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