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2008-Oct-17 06:33 - Financial crisis: Trichet admits the difficulty of the task

Financial crisis:  Trichet admits the difficulty of the task

 

The president of the ECB was pleased of the reactivity of the European governments facing the crisis, but opposed to the idea to reproduce in Europe the financial lifesaving plan that gets ready to the United States.

 

"The most difficult experience until now". It is by these terms that the president of the European central Bank, Jean-Claude Trichet, described the present task of the ECB, whereas the markets are t?¦tanis?¦s by the crisis that ravages the world financial planet.

 

"The emergence of the tensions of the markets financiers beginning August 2007 is certainly until now" the most difficult experience, admitted Trichet at the time of a ceremony in his/her/its honor organized by the City of Frankfort and an association of journalists.

 

This task is complicated more than all other tests that to manage it the ECB in ten years of existence, as the world correction of the markets after the bursting of the internet bubble or the terrorist attacks in September 2001.

 

Yet, the strong man of the ECB, of which the required politics of the rates irritates good number of European leaders, is said itself "very happy" of the capacity of reaction of the European governments facing the crisis. France, Belgium and Luxemburg decided Tuesday indeed to fly to the help of the Dexia bank, and Germany brought its support to Hypo Real Estate.

 

Trichet also indicated that he was against an action "to the American" in Europe, whereas the Bush government tempts by all means to make adopt a plan of lifesaving of the banking institutions facing the financial crisis. There is not a right to imitate the United States", explained the president of the ECB on the tray of France 2 in the evening. "We cannot have, of part our own European structure, the same thing that the United States", put forward Trichet, estimating that it was necessary to find a few something "that is appropriated for us



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