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Trichet's testimony before the European Parliament

In testimony before the European Parliament's economic and monetary affairs committee given on 16 February Jean-Claude Trichet of the ECB said recent data have strengthened the ECB's expectation of an economic recovery in the eurozone and made us "more confident" that the recovery began in the second half of 2003, and had strengthened expectations of an upswing in economic activity.

Trichet told the Committee an upturn in economic activity is well under way at the global level. "The robust real

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