Trichet Says European Governments Must Act to Meet Budget Deficit Targets

European Central Bank President Jean- Claude Trichet said the euro area’s 16-member governments must take all steps necessary to make their deficit reduction plans credible.

“We have the same message for all countries,” Trichet said today on RTL radio from Paris. “We say to them, ‘take all measures to make next year’s fiscal objectives credible. It’s important for confidence, notably for the confidence of investors and savers.’”

Trichet also said that the European Union has the “instruments” necessary to deal with threats to the euro and that the ECB’s current interest rates are “appropriate.”

To contact the editor responsible for this story: Mark Deen at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.