There is little evidence of a US-style “new economy” developing in the euro zone, said European Central Bank President Wim Duisenberg this week…

Date: 06/07/2000

...rejecting calls for a loosening of monetary policy to help boost its growth. He said the new ecomony was primarily a "supply-side story", adding: "An inappropriately lax monetary policy would not create better conditions for the emergence of a new economy. On the contrary, by jeopardising the maintenance of price stability, such a policy could seriously endanger the credibility of the ECB."