International Monetary Fund Managing Director Horst Koehler said on Feb 15 he saw European GDP growth in 2001 of some three percent against two percent expected for the United States. In a wide-ranging conversation with Italian business daily Il Sole 24 Ore, he predicted the euro would appreciate against the dollar. "I think that in terms of purchasing power the euro is undervalued against the dollar but this is not very worrying and isn't something that now needs action," he said in the