Word: trichet
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...Other players have waded into the fray too. José Manuel Barroso, the European Commission president, has urged Merkel to agree on a package of "coordinated bilateral loans" for Greece - or risk harming the euro. European Central Bank President Jean-Claude Trichet and French President Nicolas Sarkozy have also dismissed the IMF option, saying it would make the E.U. look incapable of resolving its own crises. (Sarkozy has his own reasons for keeping the IMF at bay: its managing director, Dominique Strauss-Kahn, is a potential rival in France's 2012 presidential election.) Others, like French Finance Minister Christine Lagarde...
...buck is one of the oldest and most often used traditions of democracy. At the annual World Economic Forum meeting in Davos, Switzerland last January, admonishment for bankers on one hand and praise for President Obama on the other were abundant. European Central Bank President Jean-Claude Trichet applauded the Obama administration’s intervention in the U.S. banking system and blamed bankers for “generating the biggest financial crisis since the Great Depression...
Although the pledge to help Greece was sincere, it was light on specifics. After the new E.U. president, Herman Van Rompuy, announced that the leaders of Germany, France and Greece - along with himself and Jean-Claude Trichet, head of the European Central Bank - had reached an agreement, the leaders then passed the issue over to their subordinates to hammer out the details. There was no call for an emergency bailout or help from the International Monetary Fund. Instead, the 27 E.U. members promised to underwrite the Greek economy through loans, guarantees and other measures, so long as Athens maintained...
...Getting out of it won't be easy. Jean-Claude Trichet, president of the European Central Bank, which sets interest rates for the euro zone's 16 countries, urged the country on Monday, Dec. 7, to take "courageous" steps to tackle the crisis. Greek Finance Minister George Papaconstantinou, part of the socialist government that won power in the country last October, duly pledged to do "whatever is required" to shore up the country's finances. Key to the recovery plan: slashing Greece's budget deficit next year from 12.7% - more than four times the level allowed under E.U. rules...
...government bonds and commercial paper with newly created money. The European Central Bank is mulling an end to its 12-month loans to banks next year. "Not all our liquidity measures will be needed to the same extent as in the past," says ECB president Jean-Claude Trichet...