BERLIN (MNI) – European authorities will not allow Greece, Spain or
Portugal to default on their debt, ECB President Jean-Claude Trichet
pledged in an interview published Sunday.
“We won’t allow this,” Trichet was quoted as saying by German
weekly Welt am Sonntag (WamS). “We did not create the Maastricht Treaty
in the spirit of being able to retreat from it,” he added.
The ECB President once again defended last month’s decision of the
central bank to purchase government bonds. “The situation was too
dramatic,” he said, noting that Europe had been the “epicenter of the
crisis” at that moment.
Trichet once again promised that the ECB will continue to deliver
price stability in the Eurozone. “Because anyone who is endangering
price stability is bringing Europe into danger,” he said.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: MT$$$$,M$X$$$,M$G$$$,M$$EC$,M$$CR$,MGX$$$,MFX$$$,M$$FX$]
