FRANKFURT (MNI) – Approval of new fiscal measures by the Italian
senate this week confirms Italy’s commitment to necessary reforms, the
president of the European Central Bank said Thursday.
“The latest decisions taken by the Italian government are
confirming, which is very important for the [ECB] Governing Council, the
first commitment of the Italian government,” Jean-Claude Trichet said.
“We had confirmation that there was implementation of what had been
said. That is of extreme importance,” he added.
Trichet’s evident satisfaction with Italy’s actions could justify
the continuation of ECB’s programme of purchases of Italian government
bonds.
The ECB had held back from buying Italian bonds until the
government of Silvio Berlusconi took more concrete action to bring its
fiscal position under control.
[TOPICS: M$$EC$,MT$$$$,M$X$$$,MGX$$$,M$$CR$,M$I$$$]
