Lecture from Tietmeyer

 

A DECISION could be made as early as September on how final exchange rates will be fixed for Europe's single currency, Bundesbank president Dr Hans Tietmeyer said yesterday.

"It is necessary for the markets to know in good time how the final exchange rates are fixed," Dr Tietmeyer said in a speech, adding: "It is very much my hope that the ministers of finance and central bank governors will arrive at a common opinion on this question at the next informal Ecofin meeting in Luxembourg in September."

With only 18 months to go before the scheduled introduction of currency union, Dr Tietmeyer also said would be member nations still needed to solve structural problems before entering the union, as the euro could not solve all problems.