ECB report says conditions right for recovery

GERMANY - European Central Bank chief Wim Duisenberg said on Tuesday conditions were right for a euro zone economic recovery although there was still uncertainty about its strength.

"While the strength of the economic recovery remains subject to some uncertainty at the current juncture, conditions are in place in the euro area to ensure that a recovery will take place," Duisenberg said in a foreword to the bank's annual report.

His remarks were prepared in March.

The ECB has held its benchmark i