BRUSSELS (MNI) – Eurozone countries should be sure they have
credible budget policies and structural reforms are essential, European
Central Bank President Jean-Claude Trichet said on Thursday.
“We call on all the capitals to be sure that they have a convincing
path to fiscal sustainability. We continue to say this. It is our main
message,” Trichet told reporters in Frankfurt.
“At the level of the individual countries, responsibilities are in
the various capitals,” he said. “All countries [must] give full
credibility to targets that have been decided upon and approved to
ensure that investors see the adjustment programs are on track.”
“Appropriate structural reforms are of the essence. It is not a new
message,” he added.
The ECB has “a primary mandate, we deliver on the mandate” of price
stability over the medium term, he reminded.
Trichet was speaking at a press conference after the ECB held its
key rate at 1% for the 18th-straight month.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
[TOPICS: MT$$$$,M$$EC$,M$X$$$,M$$CR$,MGX$$$]
