Brussels, 03/11/2003 (Agence Europe) - The erstwhile Governor of the Bank of France, Jean-Claude Trichet, took over as President of the European Central Bank (ECB) on 1 November for eight years. He succeeds Dutch national Wim Duisenberg who is stepping down after a largely positive term of office of five and a half years. Trichet was officially appointed ECB President on 16 October 2003 by the governments of the eurozone countries. The decision was taken at head of state level.
Trichet will chair his first meeting of the ECB Governing Council in Frankfurt on 6 November. Virtually all market analysts expect leading interest rates to be kept at current levels. The former Governor of the Bank of France attended the ceremonies in Athens on Monday markikng the 75th anniversary of the Bank of Greece, where he said he wanted to promote a "credible" euro and continue his predecessor's achievements. What we want to promote, said the new ECB President, is a credible currency that inspires the confidence of our people. He said this would make a major contribution to growth and job creation.