Trichet Says a Greek Exit From the Euro Would Be `Worst Possible Option'
ECB President Jean-Claude Trichet
Giuseppe Aresu/Bloomberg
European Central Bank President Jean-Claude Trichet.
European Central Bank President Jean-Claude Trichet. Photographer: Giuseppe Aresu/Bloomberg
European Central Bank President Jean-Claude Trichet said in Cernobbio today that Greece’s exit from the euro would be the “worst possible option.”
The ECB President also urged European Union countries to have a joint position within the International Monetary Fund, adding he was providing his “personal opinion.” Trichet also reiterated that this week’s decision by the board on liquidity operations was taken by consensus.
While the ECB on Sept. 2 raised its forecasts for 2010 and 2011 growth, it also extended emergency lending measures for banks into 2011, as a U.S.slowdown and concern about the fiscal health of some European countries threaten the euro-area’s recovery.
Rate These Stories
Rate this Page