Trichet on the building blocks for financial reconstruction

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Jean-Claude Trichet, president of the European Central Bank, on Friday described the three building blocks for financial reconstruction.

The first building block is banking regulation. Here, the global community had, he said, made the right diagnosis and, in the Basel III framework, drawn the appropriate lessons.

The second building block was regulation of the financial markets. "Here, reform must create greater transparency for the various market segments and products, ensure sufficient

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