WARSAW (MNI) – The euro is a great success, European Central Bank
President Jean-Claude Trichet said Friday.
Speaking at a conference of the National Bank of Poland, Trichet —
prefacing the prepared remarks made available previously to the media by
the ECB — said, “The euro as a currency is a great success indeed.”
“It is remarkable we have the credibility for the next ten years,”
he said, pointing to available data showing expected inflation at this
horizon to be 1.8%.
“The euro is backed by remarkable fundamentals,” he asserted. As a
whole, the Eurozone compares favorably to other major economies. It is
only “when you look at the individual countries” that “there you have
the weaknesses of the euro area,” he said.
“All advanced economies are under scrutiny and must correct
themselves,” he said.
–Frankfurt bureau tel.: +49-69-720142. Email: dbarwick@marketnews.com
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