EU leaders have ratified the appointment of Bank of France governor Jean-Claude Trichet as incoming president of the European Central Bank (ECB). Trichet is set to take over from Wim Duisenberg on November 1. Italian Prime Minister Silvio Berlusconi, as holder of the EU's rotating presidency, confirmed that leaders endorsed Trichet's nomination during their economic debate this afternoon. Commenting on the approval, European Commission president Romano Prodi said the "euro is in good hands" with Trichet as the next ECB president.
Prodi said he saw no better curriculum vitae than that of the Bank of France governor, who has "outstanding" experience. "I am confident that the euro is in good hands at the top of the bank and also at the different levels of the bank," he said. Prodi said he had always regarded Trichet as "having a remarkable and strong idea of economic... complexity and forecasts". //www.fxcentre.com