Trichet ECB candidacy hinges on trial - Austria

Austria's finance minister said today the candidacy of French central banker Mr Jean-Claude Trichet for the top post at the European…

Austria's finance minister said today the candidacy of French central banker Mr Jean-Claude Trichet for the top post at the European Central Bank (ECB) would depend on the outcome of his court case.

"With Trichet, we simply have to see how the court case develops. He can only be the French candidate when it is really clear that there was no criminal act in the past," Mr Karl-Heinz Grasser said at a news conference.

He said Mr Trichet's qualifications otherwise were very good for the ECB's top job, held by Mr Wim Duisenberg. Mr Trichet is to stand trial in France for suspected fraud.

Asked if he would support another French candidate, Mr Grasser said: "Obviously there was a deal [for a French Duisenberg successor] done some time ago. I was not part of the deal, but if my government wants it, I will stick by that deal".

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He added the chances were very good that Austria would nominate a replacement for Finnish ECB executive board member Mr Sirkka Hamalainen, who steps down in May. However, he said Ireland and Belgium could also offer candidates.