The Group of Seven nations favour an appreciation of the yuan against the euro following the Chinese currency's gains versus the dollar, a European Central Bank (ECB) board member said.
"The yuan has gained 10 per cent against the dollar in two years. The message of this G7 is that the yuan must now appreciate also against the euro," Lorenzo Bini Smaghi said in an interview published today.
Mr Bini Smaghi also said Europe must learn to live with a strong euro and added that the strength of the currency is an "extraordinary opportunity" for euro area firms to boost their international role.
He called on Europe to drastically limit its comments on the currency.
"[ECB President Jean-Claude] Trichet and [euro group chair Jean-Claude] Juncker should be the only one talking about the euro. Everything else is just making noise and does not help Europe's credibility."
The ECB official said an upcoming EU mission to China would strengthen the euro zone's political role towards Beijing.