FRANKFURT (MNI) – European Central Bank President Jean-Claude
Trichet reiterated that “we cannot declare victory” with regard to the
Eurozone economy, and he continued to call on all countries to be as
alert and as vigilant as possible.
“In the European Union as a whole, in the Euro Area and in any
individual country, we always said, we don’t declare victory,” Trichet
told the Committee on Economic and Monetary Affairs of the European
Parliament in Brussels. “We call for maximum caution and prudence.”
Addressing a question on Ireland specifically, Trichet acknowledged
that the Irish government understands the challenges it is facing.
“In the case of Ireland, you have the issue of a very big financial
sector that is part of the challenges that the country has to cope
with,” Trichet noted. “Ireland has proved in the past that they had to
face up to and I think it’s what the government and the parliament
understand in the present period.”
“The challenges are different on a country by country basis,”
Trichet continued. “We are permanently calling…on all countries to
face up with their own difficulties.”
— Frankfurt Bureau: +49 69 720 142; email: frankfurt@marketnews.com —
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