ECB urges independence of central banks

UK - For central and eastern European countries keen to enter the eurozone, the European Central Bank has a message: be patient, continue to pursue economic reforms and, at all costs, do not undermine the independence of your central banks.

The ECB's approach has been outlined in two speeches this month by Christian Noyer, the bank's vice-president, and Tommaso Padoa-Schioppa, an ECB executive board member.

Both made clear that while the ECB believes it is too early to set precise entry dates f