Rate cut row mars summit

GERMANY - The European Union has called for the European Central Bank (ECB) to take "further decisive action" in easing monetary policy in order to boost the eurozone's economy.

But the phrase was quickly dropped from a draft EU statement after objections from the chairman of the European Central Bank Wim Duisenberg.

The text was watered down to say that weak inflation provided room for manoeuvre on monetary policy.

The EU is not supposed to have any say over the decision of the ECB which is

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