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European Central Bank on Greek Economy

european-central-bank3(GREEK NEWS AGENDA)  Addressing the Economic and Monetary Affairs Committee of the European Parliament, President of the European Central Bank Jean-Claude Trichet predicted that “after two difficult years such as 2008 and 2009, 2010 will be the year of EU’s return to growth.”  Referring to the , Trichet pointed out that all parties comprising the eurozone should live up to their responsibilities adding that it is crucial to maintain discipline in macroeconomic policy-making. He further underlined the necessity to address structural inefficiencies leading to adverse implications in each country, including Greece. Commenting on the euro’s resilience, Trichet stressed that current monetary trends in all currencies are causing apprehension and it is not unusual for countries in the eurozone to diverge in terms of their economic indexes. A similar situation is reported among states in the USA. Earlier this week, European Commissioner responsible for Economic and Monetary Affairs, Joaquin Almunia, dismissed concerns over the recourse to external supervising institutions. Visit the Statistical Press Releases issued by the European Central Bank