Trichet says euro is ‘stable and credible’

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The president of the European Central Bank (ECB), Jean-Claude Trichet, spoke to ease fears over the future of the euro on Sunday.

In his reception speech after being awarded the 2011 Global Economy Prize by the Kiel Institute, he said the euro is a "stable and credible currency".

Trichet said global imbalances were "one of the main challenges facing the global economy and the world community", but that the euro area "does not contribute" to them.

Quoting International Monetary Fund figures that

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