Trichet on the euro's success

A high level of central bank credibility has ensured that the creation of the euro has been a success story, Jean-Claude Trichet, the president of the European Central Bank (ECB), said.

"Right from the beginning, the ECB was able to establish, and then maintain, a high level of credibility to effectively safeguard price stability in the euro area, Trichet said.

"The high credibility and success of the single monetary policy in the euro area rests on two cornerstones: the institutional framework

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