Duisenberg says 12-member Eurozone requires stability at present time
The European Central Bank was slated to meet last week with both its 18-member rate-setting council and financial markets increasingly on a war footing. As concerns grow about the prospects of military action to topple Iraqi dictator Saddam Hussein, ECB chief Wim Duisenberg ruled out on an early cut in interest rates ahead of the bank’s meeting last Thursday saying the 12-member Eurozone required “stability” at present.
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