Trichet: fixing public finances precursor to price stability
Jean-Claude Trichet, the president of the European Central Bank, has reiterated that tackling public deficits is a precursor for maintaining price stability and urged member states to take the initiative towards greater reform.
In a speech delivered at an event in Westphalia commemorating the induction of Hans Tietmeyer, a former president of the Bundesbank, into the Westfälische Ehrengalerie on 26 March, Trichet warned that countries' budget deficits had risen substantially on account of the
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