Trichet sounds debt warning

Jean-Claude Trichet, the president of the European Central Bank (ECB), has warned that many European governments have reached the ceiling in terms of how much debt they can incur in fighting the recession.

Speaking on June 21, Trichet said that the injection of massive public funds to stimulate European economies had been the right thing to do.

But, he added, governments that have borrowed huge sums to fight the crisis should not incur further debt and should now begin to reduce their budget

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