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Accession tigers to punch above their economic weight

The President of the European Central Bank, Jean-Claude Trichet, is by no means a man given to issuing wild, optimistic statements.

His job is to express himself as neutrally as possible about economic events, giving nothing away that could startle the markets.

But he has surprised commentators by enthusiastically describing the accession of ten new countries on 1 May as an "absolutely fantastic" development in EU history, saying that the new member states would provide a "major ...

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