European Central Bank (ECB) chief Mr Wim Duisenberg has admitted for the first time that the introduction of the euro has led to higher prices, a report said yesterday.
"We did not acknowledge clearly that the change had led to a slight increase in prices," Mr Duisenberg was quoted as saying by the economic daily Financieel Economische Tijd.
"We should have been more honest. At the same time we could have explained that, for products overall, the effect has been very limited," he added.
The paper quoted remarks made by Mr Duisenberg to the Dutch cable television station RTL Z, when asked about the impact of the euro's introduction in cash form on January 1st last.
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- (AFP)
