Central banks took appropriate decisions -Trichet
LONDON |
LONDON Aug 6 (Reuters) - The European Central Bank took different decisions to central banks in the UK or United States because the economic circumstances in the euro zone were different, ECB President Jean-Claude Trichet said on Thursday.
"We didn't do the same because the situation was not the same, because the financing of the economy, the structure of the economy was not the same," he said, speaking on the BBC's Newsnight programme. "We all did what was appropriate in our own circumstances."
Trichet also said the euro zone still faced a tough economic situation, although the pace of contraction is slowing. He said the ECB must stay alert. "Caution and prudence is certainly of the essence," he said. (Reporting by Laurence Fletcher; Editing by Leslie Adler)
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