BIS: Trichet Confirms End To Global Economic Freefall
BASEL, Switzerland -(Dow Jones)- The global economic freefall has ended, but
central bankers and governments still have their work cut out because risks to
financial stability and economic growth loom large, European Central Bank
President Jean-Claude Trichet said Monday.
Speaking in his capacity as chair of the Global Economy Meeting at the Bank
for International Settlements, Trichet said "there is certainly no time for
complacency."
"Through the special measures we avoided a depression and stabilized the
situation but, of course, a large number of issues are still there," Trichet
said at a press conference.
The remarks come after leaders from the Group of 20 industrialized and
developing economies--representing around 85% of the global economy--approved a
timetable for agreeing polices that will rebalance the global economy, at a
meeting Friday and Saturday.
G20 governments also agreed to keep their stimulus measures in place, despite
signs that the global economy is in recovery
-By Nina Koeppen, Dow Jones Newswires; +49 171 569 4340; nina.koeppen@
dowjones.com
(END) Dow Jones Newswires
11-09-090802ET
Copyright (c) 2009 Dow Jones & Company, Inc.
|