France president's Latest moves to boost ECB
French President Nicolas Sarkozy is drawing up plans to boost the political accountability of the European Central Bank, the Financial Times reported.
Sarkozy wants the ECB to publish minutes of the meetings of its rate-setting governing council, the newspaper reported.
He also wants the eurogroup - the council of eurozone finance ministers - to acquire its own permanent secretariat to strengthen co-ordination of policy, and for there to be closer contact between the eurogroup and the ECB.
However, Sarkozy does not intend to push this agenda during France's ongoing EU presidency for fear of alienating other EU states.
"We must convince our partners that our project is not a Trojan horse," the newspaper quoted a senior French official as saying.
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07-21-2008, 01:03 AM
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