WHAT THE PAPERS SAY: ECB role unclear, says Convention chief

In a long interview with Le Figaro, former President Valéry Giscard d'Estaing says that even after the arrival of euro notes and coins the role of the European Central Bank remains unclear. The man who will head the Convention that must come up with a blueprint for EU reform by 2004 adds that while most of the EU now has monetary union it still lacks a single economic policy.