Euro appreciation significantly eroding EU competitiveness, ECB's Panetta says

ROME (Reuters) -The appreciation of the euro is significantly eroding the price competitiveness of European products, the European Central Bank's governing council member Fabio Panetta said on Tuesday.

Addressing a financial conference in Rome, Panetta said falling Chinese exports to U.S. and increasing exports to the EU were confirming the risk of a "broad redirection" of Chinese production towards EU markets.

(Reporting by Giuseppe Fonte, editing by Alvise Armellini)