THE euro could become the world’s leading currency in the next decade if leaders of the single-currency bloc succeed in tightening fiscal integration, European Central Bank policymaker Christian Noyer said in an article published yesterday in the Journal du Dimanche.

FRENCH leaders are girding for the loss of the nation’s top credit grade, with the central bank governor taking a swipe at Britain as he called debt-rating companies “incomprehensible and irrational”.

GERMANY and France were split ahead of crucial talks tomorrow over how to strengthen shaky European banks and fight financial market contagion to prepare for a possible Greek default.

EUROPEAN Central Bank Governing Council member Christian Noyer ruled out a restructuring of Greece’s debt, calling it a “horror story” that would leave the nation shut out of financing for years.

THE impact of a Greek debt restructuring on non-Greek European banks would be “milder” now than a year ago thanks to European Central Bank loans, according to Goldman Sachs’ analysts.

VICTIMS of the Japanese earthquake, tsunami and snow blizzard are still being found by humanitarian groups and are receiving food, water and medical attention.

THE European Central Bank should draft commercial lenders as allies in its fight to stem the euro-region financial crisis by giving them incentives to buy bonds of debt-swamped governments, Deutsche Bank says.

All eyes are on the markets this morning to see how they respond to the €85bn EU-IMF bailout of Ireland.

British Prime Minister Gordon Brown's “blueprint” for avoiding a repeat of the financial crisis was dismissed today as “European ideas wrapped in a British flag”.

Europe-wide supervision of banks and financial bodies could be on the cards under proposals today to provide an “early warning system” against future economic meltdowns.

INTERNAL market commissioner Charlie McCreevy has been harshly criticised by the leader of the Socialist group in the European Parliament.

TRADER Jerome Kerviel, who allegedly cost Societe Generale bank €4.9 billion with unauthorised activities, has not begun a wrongful dismissal claim, a source close to him said yesterday.

The board of scandal-marred French bank Societe Generale met today as its top executive came under intense pressure over the loss of billions of euro blamed on a rogue trader.

A FRENCH presidential adviser has said the rogue trader who this week lost €4.9 billion had been gambling more than the value of the bank he worked for.

Societe Generale bank’s chief executive took out newspaper ads today begging shareholders to accept his “apologies and deep regrets” after a trader at the bank was accused of fraud costing the company €4.96bn.

The second-biggest bank in France admitted today it has lost €4.9bn through a junior rogue trader who gambled it away on the world’s markets.

EUROPEAN interest rates are set to hit a six-year high today despite the strong differences emerging over interest rate policy.

As the disbelief, then the despair sank in, and dejected supporters of the Paris Olympic bid trudged quietly home in the rain, economists in France began counting the cost of London’s victory.

The French economy is expected to grow by 2% this year with growth of 1.3% clocked up by end of the second quarter, the Bank of France said today.

Yasser Arafat’s wife today accused Israeli Prime Minister Ariel Sharon of being behind reports of a probe by French prosecutors into alleged transfers of millions of pounds to her Paris bank accounts.

EURO ‘weakness’ against the dollar will be short-lived analysts said yesterday, with forecasters suggesting the euro will average $1.25 this year.

EUROPEAN Central Bank council member Christian Noyer said excessive currency fluctuations may hurt global economic growth.

THE new president of the European Central Bank, Jean-Claude Trichet, chairs his first meeting of policy-makers this week.

EUROPEAN Central Bank (ECB) President Wim Duisenberg’s reputation rose and fell with the euro, and as a sign of his mixed legacy he leaves office today with the 12-nation currency where he found it: worth about $1.17.

EUROPEAN Central Bank President, Wim Duisenberg yesterday urged European Union finance ministers to stick to budget deficit rules, or risk a dangerous loss of confidence in monetary union.

Christian Noyer has been appointed the new head of the Bank of France.

PRESIDENT elect of the European Central Bank, Jean-Claude Trichet’s singled mindedness on stability once resulted in him being dubbed the “ayatollah of the strong franc.”

FRANCE and Germany are expected to come under the most concerted pressure yet from other EU finance ministers over their plans to exceed the Stability Pact for a third year and face multi million euro fines.

EUROPEAN Central Bank President Wim Duisenberg said Germany and France are putting economic growth and jobs at risk by flouting budget-deficit limits designed to boost confidence in the euro.

Bank of France governor Jean-Claude Trichet has been acquitted on charges of false accounting, clearing the way for him to become the next president of the European Central Bank.

THE European Central Bank cannot judge how an economy already wracked by war fears would react to fighting, ECB President Wim Duisenberg said on Monday signalling interest rates will stay on hold awhile longer.

BANK OF FRANCE Governor Jean-Claude Trichet went on trial yesterday in a decade-old banking scandal that could thwart his bid to become the next president of the European Central Bank.

Bank of France Governor Jean-Claude Trichet went on trial today on charges that could ruin his bid to become the next president of the European Central Bank.

Bank of France Governor Jean-Claude Trichet went on trial today on charges that could thwart his bid to become the next president of the European Central Bank.

A FRENCH magistrate plunged the future of Jean-Claude Trichet and the European Central Bank into disarray yesterday.

With attention focused on the launch of euro cash, the European Central Bank is today expected to avoid further excitement and leave key interest rates unchanged for the 12 countries using the new currency, economists say.