Brussels, 04/12/2008 (Agence Europe) - With its decision on Thursday 4 December to reduce interest rates in the euro area by 75 basis points, the European Central Bank (ECB) has taken a historic step. While a reduction was expected, its size is unheard of in the 10 years of the ECB. This decision, following on from two successive 50 basis point reductions in October and November (see EUROPE 9777 and 9757) reflects the seriousness of the economic situation and the fall in inflation. The...