Tags: trichet | euro | crisis | ecb

Trichet: Global Economy 'Still in a Crisis'

Sunday, 25 March 2012 02:12 PM

The global financial system has yet to fully emerge from a multi-year crisis, Jean-Claude Trichet, former head of the European Central Bank, said on Saturday.

"To me, we are all still in a crisis," Trichet told a policy conference sponsored by the U.S. Federal Reserve. "It is not the privilege of Europe to still have a crisis."

The former ECB chief's comments come amid fresh fears of a broad recession across Europe. Germany and France reported unexpectedly sharp declines in manufacturing activity for March, while Britain added to the gloom with a steeper-than-forecast fall in retail sales.

In the United States, data has been more sanguine. Still, policymakers worry the economy is not growing quickly enough to put a substantial dent in the 8.3 percent jobless rate.

© 2021 Thomson/Reuters. All rights reserved.


127
2012-12-25
Sunday, 25 March 2012 02:12 PM
Newsmax Media, Inc.
 
Newsmax TV Live
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved