EU pays tribute to 'Mr euro'

Wim Duisenberg, the former president of the European Central Bank was found dead on Sunday at his home in the south of France.

Duisenberg, 70, apparently drowned in his swimming pool after an unspecified cardiac attack.

The flamboyant Dutchman is credited with overseeing the introduction of the euro and was the first head of the European Central Bank from 1998 to 2003.

Duisenberg, a career politician and banker, was an instantly recognisable figure, tall, stooped and with a shock of white hair, he quickly became known as Mr euro.

The chain smoking, straight talking Dutchman’s reign at the ECB was not always easy; especially having to deal with member state budget discipline after the euro’s initial devaluation.

Known for his bluntness, Duisenberg famously answered a request for interest rate cuts from eurozone member states, with the grandiose, “I hear but don’t listen”.

On the launch of euro notes in 2001, however, Duisenberg also showed he had a politician’s eye for sound bites.

“Central bankers are not supposed to have emotions or dreams. Forgive me if I make an exception today for this is a moment in which the flow of history is present,” he said.

The European Commission said in a statement that Duisenberg played a decisive role in the building of monetary union and the success of the introduction of the euro.

“Duisenberg contributed with force and conviction to the success of one of the most significant projects of recent European history,” said Joaquín Almunia, commissioner for economic and monetary affairs.

Sentiments echoed by Duisenberg’s replacement at the European Central Bank, Frenchman, Jean-Claude Trichet.

“He played a decisive role in setting up the monetary institutions in Europe, in the successful launching of the new currency, and in fostering the credibility of and ensuring confidence in our single currency, the euro.”

German finance minister, Hans Eichel praised the Dutchman’s calm manner and said Duisenberg had played a “central role in the successful creation of European economic and monetary union.”

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