European finance ministers push for freer yuan

European finance ministers called for a free-floating yuan, the Wall Street Journal reported. The ministers were meeting in Luxembourg to prepare a European stance ahead of the Group of Seven meeting in the US later this month. Jean-Clade Juncker, Luxembourg's prime minister and finance minister, said he plans to visit China to discuss the yuan's exchange-rate controls. The European Central Bank president and EU monetary and economic affairs commissioner will travel with him. The ministers will push the G-7 to include their remarks on the yuan and other currencies in its statement on foreign-exchange rates. This comes during a week when the euro hit a record high against the yuan, and signs are emerging that the strong euro is dampening European exports.