ECB's Garganas: 'stay cool' over strong euro

European Central Bank council member Nicholas Garganas played down the need for an interest rate cut in a newspaper interview on Friday 27 February, saying a strong euro was not stifling the euro zone economy.

Speaking after French and German calls for the ECB to lower rates, Garganas said the euro zone would continue to grow without a cut, the newspaper reported.

"It had attracted too much concern," he was quoted as saying in the Financial Times. "We must look at the historical average of the