ultra-powerful

The euro is overvalued and the European Central Bank needs a political counterweight to compensate for the fact that is it ”ultra-powerful”, the head of International Monetary Fund was quoted as saying on Monday. IMF director general Dominique Strauss-Kahn praised the ECB for containing inflation, but told Le Monde newspaper that eurozones countries needed to appoint a political supremo to make sure economic growth was promoted. ”The problem with the euro is that the European Central Bank, which does a good job controlling inflation, is ultra-powerful,” Strauss-Kahn was quoted as saying.