ECB's Mersch says rates 'perfectly appropriate'

European Central Bank council member Yves Mersch said current interest rates are correct and that Italian calls to leave the euro would be a recipe for turmoil.

``The current interest rates are perfectly appropriate for the euro system,'' Mersch, 55, said in an interview at the central bank in Luxembourg, which he heads.

The increase in the cost of oil is ``certainly an evolution that's unwelcome if it proves to be entrenched,'' Mersch said. ``It has to be observed. How will this exogenous eve

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