English concern over European Central Bank disunity

The Governor of the Bank of England, Eddie George, has said the credibility of the future European Central Bank is being undermined by disagreement over who should head it.

His warning comes a day after European Union finance ministers failed to reach agreement on the issue.

Mr George suggested that France was attempting to exert national influence by continuing to support the head of its central bank, Jean-Claude Trichet.

The BBC Economics Correspondent says Mr Trichet is one of the two strongest candidates, along with Wim Duisenberg of the Netherlands, who heads the European Central Banks' forerunner, The European Monetary Institute.

From the newsroom of the BBC World Service