DUBLIN Nov 7 Italian Prime Minister Enrico
Letta on Thursday strongly welcomed the European Central Bank's
decision to cut interest rates, saying it would help curb the
strength of the euro and help economic growth.
"It is great news because it shows the ECB cares about
growth and competitiveness in Europe," Letta said at a news
conference in Dublin after the ECB surprised markets by cutting
its main refinancing rate to 0.25 percent from 0.50 percent.
Letta said the move would allow a "re-balancing" of the
euro-dollar rate which had been "a source of difficulty in