Trichet on the ECB's monetary policy strategy

In a speech on 'The ECB's monetary policy strategy after the evaluation and clarification of May 2003' given on 20 November, Jean-Claude Trichet of the ECB said in the field of fiscal policies the arguments in favour of the Stability and Growth Pact are not simply based on fiscal orthodoxy for the sake of orthodoxy. They are based upon fiscal soundness for the sake of fostering sustainable growth and job creation.

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