Trichet on the turmoil
The root of the problems in many financial institutions was their inability to adequately assess the risks associated with their exposures, said Jean-Claude Trichet, the president of the European Central Bank.
Trichet listed measures necessary for the restoration of the financial sector:
· improving risk management techniques and procedures as well as enhancing firm-wide oversight;
· enhancing transparency and improving the reliability of information disclosed by firms;
· raising liquidity
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