Duisenberg urges reforms

EUROPE - Wim Duisenberg, head of the European Central Bank, on Tuesday said a lack of confidence in markets and uncertainty are the bigger problems for the European economy rather than the ECB's oft-criticized hold on interest rates.

Launching a defense of a policy that has kept rates on hold since November 2001 at 3.25 percent even as eurozone growth forecasts come down CBS MarketWatch reported, Duisenberg said any long-lasting turnaround will have to come from European politicians moving on