Berlin - European Central Bank (ECB) chief Jean-Claude Trichet on Sunday defended the success of the euro currency, in an article written for German Bild am Sonntag newspaper.
'There is no euro crisis. What we are currently observing in some eurozone countries is primarily a debt crisis in public budgets,' Trichet wrote.
His comments appeared alongside a report that 58 per cent of Germans mistrust the euro - an increase of 4 per cent since December, Bild am Sonntag wrote, citing surveys by pollsters Emnid.
Trichet said the currency had achieved its purpose in the 12 years since it was introduced, by keeping average eurozone inflation below 2 per cent annually.
'We have maintained the euro's purchasing power,' the ECB chief wrote, highlighting German's inflation, of an average 1.5 per cent since 1999.
'This is the best result over such a period of time in the past 50 years,' Trichet added.
Emnid's survey also indicated that 48 per cent of Germans supported an increase in aid for Greece, while just 41 per cent opposed it, Bild am Sonntag reported.
Trichet warned that all eurozone member states had to observe the principles of solid fiscal policy.
'Fundamental reforms are necessary so economic policy rules can be improved and adhered to by all,' the ECB chief wrote.
Source: www.monstersandcritics.com
'There is no euro crisis. What we are currently observing in some eurozone countries is primarily a debt crisis in public budgets,' Trichet wrote.
His comments appeared alongside a report that 58 per cent of Germans mistrust the euro - an increase of 4 per cent since December, Bild am Sonntag wrote, citing surveys by pollsters Emnid.
Trichet said the currency had achieved its purpose in the 12 years since it was introduced, by keeping average eurozone inflation below 2 per cent annually.
'We have maintained the euro's purchasing power,' the ECB chief wrote, highlighting German's inflation, of an average 1.5 per cent since 1999.
'This is the best result over such a period of time in the past 50 years,' Trichet added.
Emnid's survey also indicated that 48 per cent of Germans supported an increase in aid for Greece, while just 41 per cent opposed it, Bild am Sonntag reported.
Trichet warned that all eurozone member states had to observe the principles of solid fiscal policy.
'Fundamental reforms are necessary so economic policy rules can be improved and adhered to by all,' the ECB chief wrote.
Source: www.monstersandcritics.com
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