Trichet on integration in the enlarged Europe

In a speech on 'The challenges of economic and financial integration in the enlarged Europe' given on 9 April, Jean-Claude Trichet of the ECB said new European Union members should curb budget deficits not only to fulfil criteria needed to join the euro but also to better absorb EU funds.

"Although the new member states have generally lower debt ratios than the euro area countries, they have two additional incentives to lower their government budget deficits," Trichet said.

"First, the failure to

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