ActionForex.com Forex Trading Portal with Forex News, Forecast and Analysis, Charts, Live Rates, Pivot Points, Education, Training, Ebooks Downloads
Mar 18 15:48 GMT
Sponsor
Forex Brokers
ECB's Trichet Calls on G20 to Honour Commitments as Quickly as Possible Print E-mail
European Economy |  Written by CEP News |  Apr 09 09 08:08 GMT | 
(CEP News) - The G20's measures must be implemented as soon as possible in order to avoid further deterioration in economic conditions, European Central Bank President Jean-Claude Trichet said in an interview with Italian newspaper Il Sole 24 ORE on Thursday.

Trichet told the newspaper that the financial system continues to be under pressure from the financial crisis and that the G20 measures would help alleviate tensions.

"I would not focus on one particular measure," he said. "They are all important and are viewed together. It seems to me that they cover all the most relevant aspects of this crisis. What is now important is that they are introduced quickly, rapidly and as professionally as possible."

Although the European Central Bank agrees that the International Monetary Fund needs additional resources to help fight the financial crisis, Trichet said he has no position on the G20's decision to allow the IMF to print SDRs as a means of expanding the global money supply.

He also said the euro zone economy could be expected to return to growth sometime in 2010.

Echoing comments made at last week's rate decision, Trichet also said the European Central Bank would continue to cut rates at a "measured pace". Markets interpreted that as meaning the ECB would cut by another 25 bps, and that details of possible alternative monetary policy tools, including quantitative easing, would be discussed at the next meeting of the Governing Council in May.

By Erik Kevin Franco, This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Stephen Huebl, This email address is being protected from spam bots, you need Javascript enabled to view it

CEP Newswires - CEP News © 2009. All Rights Reserved. www.economicnews.ca

The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News.

A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer.


Digg!Reddit!Del.icio.us!Google!Live!Facebook!Technorati!StumbleUpon!Newsvine!Furl!Yahoo!Ma.gnolia!Squidoo!
 
European Economy
All Market News
Home | Advertising | About Us | Contact Us | Newsletter | Risk Warning | Privacy Policy | Disclaimers | Site Map | RSS | Search
ActionForex.com © 2009 All rights reserved.