ECB's Papademos on Financial Integration in Europe

In a speech at the press conference for the first publication of the report "Financial Integration in Europe - March 2007" given on 28 March Lucas Papademos of the ECB said the lag time between changing the interest rate and seeing its affect on price levels and economic activities in the eurozone is broadly the same, although the effects on both are different.

Speaking at a news conference to present the ECB's report on Financial Integration in Europe, Papademos said a well-integrated financial

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