BERLIN (MNI) - The marked rise of the euro's foreign exchange rate is a result of the recent positive development of the European economy, German Economics Minister Rainer Bruederle said Monday.

"It is a sign for the economic strength of Europe that the euro is so strong," Bruederle told reporters here.

In other remarks, the Minister reckoned that there exists currently no broad credit crunch in Germany.

Still, Chancellor Angela Merkel will talk with banking representatives on Wednesday to try to assure sufficient credit for businesses in the country, Bruederle added.