Felle aanval Berlusconi op "foutief" beleid Europese Centrale Bank (en)

Silvio Berlusconi today issued a blistering attack on the policies of the European Central Bank (ECB), describing them as "completely erroneous".

Speaking at a press conference in Milan - where he was presenting his party's candidates for the forthcoming European elections - Mr Berlusconi said, "I am a convinced European but I am not scared to say that those holding the reins of the single currency are doing completely erroneous things".

These "erroneous" policies have kept the euro exchange rate too high against the dollar "in an unbelievable and ill-considered way", continued Mr Berlusconi, according to French agency reports.

The ECB governs economic policy for the 12 countries that share the euro and sets interest rates for this block.

It has been criticised by many in recent times - including French President Jacques Chirac and German Chancellor Gerhard Schröder - for failing to cut interest rates to stimulate the economy and reduce the level of the euro vis-à-vis the dollar.

But the President of the ECB, Frenchman Jean-Claude Trichet, has insisted firmly on the bank's independence from the nation states and has kept borrowing costs on hold.