Trichet still sees "accumulation of shocks"

Jean-Claude Trichet, the president of the European Central Bank (ECB) said in an interview with L'Express, a French magazine, current market conditions amount to "an accumulation of shocks that is clearly not over."

Trichet said the real effects of the turmoil in financial markets, coupled with pressures from rising food and commodity prices mean that shocks will persist in the near future.

But, he added, "I am not saying that the worst necessarily lies ahead of us. We are in the process of an