PORTO CARRAS, Greece, June 21 (UPI) -- French President Jacques Chirac has confirmed the European Union summit in Greece endorsed Jean-Claude Trichet as the next head of the European Central Bank.
German Chancellor Gerhard Schroeder also lent his support to Trichet, saying that his "qualifications are completely unquestionable." He said he strongly supported the French candidate for the job.
"The heads of state and government have decided on the candidature of Jean-Claude Trichet and they invite the Council of Finance Ministers at its next session to engage the procedure," Chirac said.
The endorsement of Trichet followed something of a tussle between France and other EU states, many of whom felt that now was not the time for the leaders to publicly anoint Trichet as the next ECB president, Market News reported.
But Schroeder admitted that the leaders' endorsement of Trichet's candidacy would allay any concerns in the financial markets.
