Wim Duisenberg, former head of the European Central Bank, passed away at age 70. Mr. Duisenberg served this position from 1998 until 2003, during which he steered the multi-sate adoption of the Euro common currency. He has since been replaced by Jean-Claude Trichet. Economists and politicians continue to argue over who deserves the brunt of the blame for the Euro’s current troubles. However, all agree that Mr. Dusienberg should be commended for his leadership, in successfully implementing the Euro-system without agreement on economic and monetary policy. The Fiancial Times reports:

On Sunday a European Commission spokesman said: “As the first president of the European Central Bank Mr Duisenberg played a decisive role in the building of the monetary union and to the success of the introduction of the euro. “His dedication and determination as the head of the ECB allowed for the rapid establishment of the independence, credibility and competence of this institution.”

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