Word: trichet
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...main diplomatic priorities, but he has approached them with nationalistic designs. Sarkozy played a central role in getting E.U. leaders to accept a simplified treaty in the place of a new constitution, for example, yet he has continually criticized the European Central Bank - and attacked its president, Jean-Claude Trichet - for not shaping policy to French economic considerations. Similarly, just how good a European was Sarkozy being when he preempted years of effort by Brussels to secure the freedom of Bulgarian medics held by Libya in order to cut a deal of his own with Tripoli? Sarkozy did a marvelous...
...panel, entitled “Finding Balance in the Global Economy,” was chaired by Financial Times commentator Martin Wolf. Other participants included Palaniappan Chidambaram, the Indian finance minister; John A. Thain, chief executive of the New York Stock Exchange; and Jean-Claude Trichet, president of the European Central Bank in Frankfurt...
...years in slow motion, European economies are showing signs of a modest revival: business confidence is buoyant, investment is rising and the Continent's thrifty consumers are even loosening their purse strings a little. But the European Central Bank (ECB) is not cheering. Last week, ECB president Jean-Claude Trichet confirmed to the European Parliament that the bank is planning to raise interest rates in the near future to combat what it sees as growing inflationary pressures. The first hike could come as early as this week. Trichet insisted that rate rises will be limited in scope and that...
...almost 3% this year, while Ireland is likely to see more than 4%. But Italy is in recession, and most economists have been slashing their forecasts for Germany and France to only a tad in excess of 1% growth this year. Such differences create a dilemma for Jean-Claude Trichet, president of the European central bank, the body that sets monetary policy for the entire euro zone. Economists say the bank's 2% benchmark interest rate is far too low for the strongest economies, providing them with plentiful cheap money and helping fuel both a credit boom and, especially...
...same interest rate is almost certainly too high for the European Union's weakest economies. Germany's Economics Minister, Wolfgang Clement, recently urged Trichet to cut rates--so far, to no avail--and Italy's Welfare Minister, Roberto Maroni, even suggested that Italy should call a referendum on whether to readopt the lira. But after a meeting of the European central bank's council earlier this month that left policy unchanged, Trichet said the current rates were "appropriate" and "fully in line with what would be best to ... foster growth and job creation." The talk about Europe's dumping...