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President George W Bush has welcomed a study that says US intelligence agencies know "disturbingly little" about enemy weapons programmes.
Describing the report as "extremely significant", he said US intelligence needed "fundamental change" to face the threats of the 21st Century.
The study makes recommendations for new director of US intelligence John Negroponte, who heads 15 spy agencies.
The study in particular criticises US collection of intelligence in Iraq.
The report says dramatic changes are needed to prevent failures similar to the fiasco over Iraq's missing weapons, including the creation of a a national counter-proliferation centre to combat the spread of weapons of mass destruction.
Mr Bush said intelligence had to be "timely and accurate"......
....... "The intelligence community was dead wrong in almost all of its pre-war judgments about Iraq's weapons of mass destruction," the panel concluded.
"We simply cannot afford failures of this magnitude," it added.......
........the harm done to American credibility "will take years to undo."