Finance compact: Trichet, reminders of service
The crisis has devoured a massive money, and therefore wants to avoid further ECB chief Trichet necessarily horror scenarios.
Also: The consumer prices rise only slightly.
The President of the European Central Bank (ECB), Jean-Claude Trichet, has called for substantial efforts to prevent future crises. "On either side of the Atlantic, 27 percent of GDP by the taxpayer taken in hand to avoid a depression. We have done this once, we will not do it a second time," Trichet said at the conference "The ECB and its Monitors.
The ECB is absolutely not believe that a reduction in government spending will slow economic growth. "The crisis is not over," said Trichet. The reform of the financial system is at a crucial stage. He stressed, are necessary for greater transparency, better regulation and less risky business.
The planned publication of the results of the recent Europe-wide tests on the crisis readiness of banks ("stress tests") Trichet called an "important step in the right direction": " These tests will increase transparency and increase the confidence of investors in the European banking sector. "
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