NEWS & EVENTS: Breaking News
23.06.2009 10:09
June 23. ECB head Jean-Claude Trichet called upon EU member states not to be overly exuberant at the first signs of a slowdown in the economic crisis and to “remain vigilant”. According to Trichet, a balance should be found in the anti-crisis policy between strict short-term measures and mid-term maintenance of economic sustainability. The ECB executive pledged that the European Central Bank would continue to play a role in sustaining stability and confidence. “At present we’re still in a recession which, globally, has turned out to be the deepest since World War II,” he said. “Although there are first signs the economic meltdown is moderating, we should stay on guard. We’re moving through unexplored waters and there is still a risk of unexpected financial turbulence,” he noted. EU governments need to hammer out a clear-cut plan for rolling out anti-crisis measures, although the financial sector could need serious support, Trichet believes.
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