Albanian PM blames rise in euro for slump in lek

Albanian Prime Minister Sali Berisha said his government was not to blame for a depreciation of the country's lek currency in the autumn, the domestic Shqip newspaper reported.

A stronger euro was a problem of the European Union, Berisha told Shqip in an interview.

“We should mention that the lek has saved its position (in the global crisis) better than all regional currencies," Berisha claimed. "I think that the Bank of Albania managed the problem with high efficiency.”

The lek slid to near-record lows in September after Berisha proposed at a central bankers' conference in Tirana that Albania should adopt the euro to boost its economy.

The formerly isolated Balkan country applied for candidate status to the EU in April.

Source: Balkans.com Business News