DUBLIN - The heads of government yesterday endorsed the nomination of the Governor of the Dutch Central Bank, Mr Wim Duisenberg, to head the Frankfurt based European Monetary Institute from July 1st next year.
Mr Duisenberg will take over from Mr Alexandre Lamfalussy as the head of the institute as it prepares to turn itself into the European Central Bank (ECB) with the launch of the single currency on January 1st, 1999.
But France's President Jacques Chirac, with his eye on the presidency of the ECB for a French national, made it clear the issue of who would head the ECB was not settled.