21 June 2001, 12:33  Germany's Waigel says no secret agreement for Duisenberg to step down early

FRANKFURT (AFX) - Former German finance minister Theo Waigel said there is no secret agreement that European Central Bank president Wim Duisenberg should step down before his eight year term expires, the Handelsblatt reported.
Waigel, who was finance minister at the time of Duisenberg's appointment told Handelsblatt: "The permanent version there was a time limit (on Duisenberg's presidency) agreed behind the scenes is not true. I should know, because I was there."
Speaking to the same newspaper, current finance minister Hans Eichel reiterated his support for Duisenberg, saying the president is appointed for an eight year term."
"He is doing a good job. There is no reason for a debate about the succession", Eichel said.
Duisenberg was appointed for an eight-year term but told EU leaders in May 1998 that he did not intend to serve the full term but wanted to see through the transition to euro notes and coins next year.

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