Europe must focus on improving the competitiveness of its economy rather than the exchange rate, German Finance Minister Wolfgang Schaeuble said on Friday, brushing aside French calls for EU action to weaken the euro. French policymakers and businesses have complained about the strength of the euro and asked for the EU and the European Central Bank to do more to weaken it, while Germany has insisted on the independence of the ECB. A strong euro has its advantages, Schaeuble said, adding: "We have to concentrate on whether the European economy is competitive and then we will have an appropriate exchange ... (full story)