Mr Wim Duisenberg, the Dutch incoming president of the new European Central Bank, has criticised EU leaders over his controversial appointment.

At a nomination hearing in the European Parliament, Mr Duisenberg also insisted that the bank would not be afraid to comment on each country's fiscal policies. In a tough statement, he ruled out the French idea of a council of ministers to act as a counterweight to the ECB.

The new president has also ruled out any possibility that the bank will publish the minutes of its meetings for, he hopes, 16 years.

Mr Duisenberg admitted that the "slightly absurd" deal under which he will retire before the end of his eight-year term to make way for a French successor had left "a bad taste in the mouth".

"Under the qualifications needed for the job, you do not find nationality," he told MEPs. "I deplore the fact that the nationality question has come so much to the fore."

However, he did confirm that he intended to retire some time after the completion of the introduction of the euro notes and coins in July 2002.

But he insisted that no firm date had been set for his departure and that he had resisted intense political pressure to agree to one.

"I would not have accepted the nomination on those conditions," he said. "I have never stated that I will serve only four or five years. What I have done is indicated . . . that I regard it not likely I will serve the full term . . ."

He said the ECB would not hesitate to make its views known on fiscal policies in writing, in articles or in speeches "whenever it deems that necessary in the interest of acquiring a better balance of monetary policy and fiscal policy".

He also rejected the parliament's demands for the minutes of meetings of the bank's executive board to be published within a month, saying he would be happy for them not to come out until 16 years later.

"Where I draw the line is to divulge the individual insights of members of the governing council that lead to decisions," he said.

Mr Duisenberg also attacked French plans for a council of finance ministers from the 11 states that will adopt the euro next year to counterbalance the powers of the bank.

Countries in the euro zone would have to increase their cooperation on fiscal and broader economic policy, he acknowledged. But he insisted: "What we do not need is a certain body of economic decision-makers to act as a counterweight to the ECB."

When asked about the role of the ECB in relation to debt management in countries with high levels of borrowings, Mr Duisenberg said his role was to keep on hammering on the necessity to reduce those unsatisfactory high debts levels at a satisfactory pace. Belgium and Italy have debt levels about twice the 60 per cent of GDP called for in the convergence criteria for monetary union.