AMSTERDAM, June 27: European Central Bank governor Wim Duisenberg denied personally telling French president Jaqcues Chirac that he would step down from the post after four years. In an interview with Dutch newspaper NRC Handelsblad published on Saturday, the Dutchman said the Chirac had given an incorrect presentation of the period of office."There was no conversation that I would step down. I can still decide to stay for the full eight years. That decision is mine only," Duisenberg said.
He also said there was no question of splitting the term into two four-year periods. Duisenberg secured the job at a European summit in Brussels at the start of May only after indicating, under pressure from Chirac, his intention to step down early from the eight-year post.
Questioned about the deal at a European parliamentary hearing on May 7, the 62-year-old Dutchman declared he had never stated he would serve only four or five years. "What I have done is indicated...that I regard it as not likely I will serve afull term," he said.
Chirac had made clear he wanted Duisenberg to step down early to make way for Frenchman Jean-Claude Trichet who would serve a fresh eight-year mandate.
The deal was widely criticised as detrimental to the ECB's credibility. Splitting the term goes against the Maastricht Treaty, which states the ECB president should serve for eight years.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
