ECB chief welcomes strengthening euro

European Central Bank (ECB) president Wim Duisenberg on Thursday welcomed the recent rise in the value of the euro, and said he did not see it endangering the eurozone's competitiveness.

"I welcome the recent appreciation of the euro as a contributing force to keeping inflation under control. And on the other hand the recent further appreciation of the euro has... no negative impact on the competitive position of Europe vis-a-vis the rest of the world," Duisenberg said.

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