×

Germany finance chief: The euro will survive French election

German Finance minister Wolfgang Schaeuble
Eric Permont | AFP | Getty Images
German Finance minister Wolfgang Schaeuble

Germany's finance minister has played down concerns over the impact of the upcoming French election on the euro.

The common currency has been on an uncertain path due to the unpredictability of the presidential vote this Sunday, but according to Wolfgang Schaeuble, the euro "can survive."

"I'm quite optimistic and I think the French people will take a reasonable decision. That means a decision that allows, so the euro can survive," Wolfgang Schaeuble, finance minister of Germany told CNBC on the sidelines of IMF-World Bank spring meeting in Washington.

The euro was trading at $1.0726 on Friday morning, up by 0.1 percent.

With two of the main frontrunners campaigning against the common currency and pledging extra spending, investors are worried about France's economic future, but mostly about the stability of the euro zone and the European Union.

Schaeuble told CNBC that rising euro skepticism across Europe is not the euro's fault.

Germany Finance Minister: Trump is right on NATO spending

"I think it's not the matter of the euro. I think it's a lot of problems. I think some problems are similar to reasons for electoral decision in U.K. and the Brexit or in the United States and the presidential elections," Schaeuble said, hinting that anti-EU sentiment is linked to concerns over security and immigration.

Follow CNBC International on Twitter and Facebook.