In a later interview on CNBC's "Squawk on the Street," former ECB President Jean-Claude Trichet said that the euro was not a target of the central bank's monetary policy, but that a strong euro during a time of low inflation was "clearly an issue."
Trichet added that despite Europe showing strong fundamentals in its economic recovery, growth and job creation have both underwhelmed central bankers. And asked why interest rates in Southern Europe have moved lower recently, Trichet attributed it to investors discovering "resiliency" in the euro.
"What we are observing is good," Trichet said. "Of course, it doesn't call for any complacency. ... The fundamentals have considerably improved in the so-called periphery countries, the countries that were under stress."
—By CNBC's Katy Barnato. CNBC's Jeff Morganteen contributed to this report.