Home | China | World | Business ECB Chief Sees Signs of Euro Zone Recovery SUN, FEB 24, 2002     The economic growth of euro zone is recovering and inflation is declining, European Central Bank (ECB) President Wim Duisenberg said on Saturday. He was justifying the ECB's monetary policy. "There is an increasing number of signals from all over Europe that we are past the bottom," Duisenberg told Belgium's De Financiele Economische Tijd, a Dutch language daily, in an interview. "We are seeing signs that the process of recovery has begun." Hinting that there would be no easing of monetary policy any time soon, he said liquidity was sufficient, the supply of credit good and interest rates were already lower than those in any euro zone country over the past 30 or 40 years. "At the current interest rate level, monetary policy does not present a single obstacle for a resumption of economic growth. I strongly deny that the ECB is conducting a strict or tight monetary policy," he was quoted as saying. Duisenberg said he was convinced that the euro had potential toappreciate, but added that he was not clear when this would happen. Editor:Zhong Source:xinhuanet Recommend to your friend email:    China Central Television,All Rights Reserved