French PM: Euro overvalued

French Prime Minister Francois Fillon said on Friday that the Euro is "clearly overvalued" and that the euro zone alone could not bear the brunt of adjustment for the world's currencies.

Fillon was speaking at a news conference ahead of meetings with Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Henry Paulson. He said he would discuss with them the risks associated with "brutal" currency fluctuations.

Francois Fillon, French Prime Minister said "Like our American friends, we feel that the recent fluctuations have been too brutal. The rate of exchange of the Euro, globally speaking, is over valued. We have been saying it, the IMF has been saying the same thing and the Euro area, according to us, cannot bear the entire weight of the adjustments for all currencies."