The French president has called for lower eurozone interest rates, in a speech ahead of the G8 summit in France next month. "Interest rates are low and can continue to fall," President Jacques Chirac said on Wednesday in what is seen as a clear reference to eurozone rates. The European Central Bank (ECB) cut its key interest rate to 2.5% in March but the economic troubles of the 12 single-currency countries have continued to mount. The economies of Germany, Italy and the Netherlands all shrank in the first quarter. Since the start of the year, the euro has also gained about 11% on the dollar, surging beyond its 1999 launch level to around USD 1.17.