Financial Times FT.com

ECB independence threatened by treaty text, Trichet warns EU chiefs

By Tobias Buck in Brussels

Published: August 11 2007 03:00 | Last updated: August 11 2007 03:00

Jean-Claude Trichet, the president of the European Central Bank, has urged European Union leaders to protect the bank's status in the bloc's reform treaty, raising concerns that the landmark deal to give the EU a new legal framework will undermine the institution's independence.

In a letter published this week, Mr Trichet takes aim at a small but potentially crucial change to the bank's standing that was agreed by EU leaders at their summit in June.

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