27 March 2001, 14:31  ECB's Duisenberg to step down in 2002, to be replaced by Trichet - Lemierre

MILAN (AFX) - European Central Bank president Wim Duisenberg will step down mid-2002 and be replaced by Bank of France governor Jean-Claude Trichet, according to European Bank for Reconstruction and Development president Jean Lemierre, the daily La Repubblica reported. The change will occur after the physical introduction of the euro (to be completed end-February 2002) and could happen around April, he was cited as saying in Rome, where he had a meeting with the treasury ministry. A former director of the French treasury, Lemierre said he was present when Duisenberg publicly promised on May 1, 1998 to step down after four years at the helm of the ECB.

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