France backs extension of Duisenberg’s ECB term

France is supporting a proposal to extend Wim Duisenberg's term as President of the European Central Bank. Mr Duisenberg's proposed successor, Jean-Claude Trichet, Governor of the Bank of France, is awaiting a verdict in his trial over the Crédit Lyonnais banking scandal. The verdict is due on 18 June 2003 and Mr Duisenberg is due to retire on 9 July 2003.