Papademos underlines importance of M3

GERMANY - Bank of Greece governor and European Central Bank vice-president designate Lucas Papademos said analysis of M3 money supply growth must remain at the core of the ECB's monetary policy.

Some economists have said the appointment of Papademos to succeed Christian Noyer as ECB vice president at the end of this month could lead to the ECB putting less reliance on M3.

The Greek is known in the market for his 'anglo-saxon' background, including large stints in the US, which some hope will mo