June 4 (Reuters) – Most Group of 20 leading economies believe that cutting budget deficits is a priority, French Finance Minister Christine Lagarde said on Friday.
“There is majority who put budgetary consolidation as the top priority,” she told reporters.
Speaking on the sidelines of a G20 meeting of finance ministers and central bank governors, Lagarde said the European Central Bank had acted responsibly during the euro zone’s unfolding debt crisis and called the euro a credible currency.
The euro EUR=, weakened by concerns over the extent of a debt crisis that erupted when Greece was unable to roll over its debts, plumbed a four-year low on Friday against the dollar. (Reporting by Sophie Taylor and Huw Jones; Editing by Alan Wheatley)