BERLIN (MNI) – ECB President Jean-Claude Trichet on Thursday said
markets haven’t yet taken full account of the EU’s E500 billion fiscal
rescue package for fiscally ailing members.
“I don’t think it’s fully priced in by markets,” Trichet said in a
speech at the Institute of International Finance in Vienna.
He acknowledged that the decision-making process “is a little bit
more complex” in the EU than in a national state. “But we deliver and
that is important,” he stressed.
On Wednesday, ECB Governing Council member Axel Weber said he did
not understand why markets are so skeptical about the fiscal rescue
program. He argued that market participants might not know the numbers
well, adding that the EU had the “problems under control.”
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: MT$$$$,M$X$$$,M$G$$$,M$$EC$,M$$CR$,MGX$$$,MFX$$$]
