Prodi defends independence of ECB

Italian Prime Minister Silvio Berlusconi and his compatriot Romano Prodi, president of the European Commission, have locked swords over the strength of the euro and European Central Bank interest rate policy during the G8 summit of industrialized nations in the US.

Yesterday CentralBankNet reported that Berlusconi publicly criticised the policy of the European Central Bank and the strength of the euro which he said "make our goods more expensive for buyers using dollars and put our exports in