Convergence makes Europe more resilient - Trichet
The adoption of the single currency has made the eurozone far more resilient to external developments than its individual member countries were, according to Jean-Claude Trichet, the president of the European Central Bank.
Speaking in Brussels on Monday, Trichet said that the euro area was stronger, in part, because the risk of possible speculative attacks on national currencies has been removed: "Not so long ago, the impact of movements of the US dollar vis-a-vis major European currencies was
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