Trichet: no complacency on sub-prime markets
In an interview Jean-Claude Trichet, president of the European Central Bank, said he remained cautious of the crisis of the sub-prime market in the United States.
Speaking to Die Zeit on 23 July, Trichet said "In a number of segments in the global finance system we have observed in the past a certain under-appreciation of risks. That was visible in the low level of volatility, the low level of spreads, the low level of risk premiums."
Discussing the recent turmoil in the sub-prime markets, he said
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