Louis Gallois, the chief executive of European Aeronautics Defense & Space Co., says U.S. economic policies that weaken the dollar are dangerous for the parent company of Airbus—but increase his eagerness to pursue acquisitions in the U.S.  Currency gyrations are just the latest problem to whipsaw EADS, Boeing Co.’s fierce rival and one of the world’s biggest aerospace companies.

The giant was created in 2000 from the merger of top aerospace companies in France, Germany and Spain, and later added major operations in Great Britain. One of Europe’s truly trans-national companies, it was nearly torn apart by nationalism four years ago.

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