ECB's Trichet at European Parliament
BRUSSELS (Reuters) - The following are comments by European Central Bank President Jean-Claude Trichet during his testimony on Monday at an economic committee of the European Parliament.
On forecasts:
"All international institutions are reviewing economic forecasts."
"We are clearly in a world which remains uncertain."
"And then growth in 2010 depends on us. And it depends on our capacity to reintroduce confidence."
Corporate bonds:
"On corporate bonds -- we will see what we decide, and if and when we decide, we will go public."
On policy implementation:
"We all have the same goal, the goal is to have growth and jobs. The questions is what do you do."
"I don't think it is justified to say we are doing less on this side of the Atlantic. We have automatic stabilizers."
"The masterword is implementation, execution (of economic stimulus). We have to deliver now, and it's true also for public spending."
On forex, reserve currencies:
"I continue to refer to the agreed statement of the G7, which I signed, which on this extremely important issue says that we reaffirm our shared interest in a strong and stable international financial system, that excess volatility and disorderly moves in exchange rates have adverse implications for economic and financial stability. I stick to that, it is what has been signed by the governors, my friend Ben Bernanke and the other governors and the ministers that participated in this meeting."
"I have noted with great, great interest that on the occasion of the last declaration, statements, Tim Geithner said a strong dollar was in America's national interest and President Obama said ... there is no need for a global currency."
"These are very, very important statements and I would not envisage anything else in the present circumstances, which are extraordinarily touchy and extraordinarily demanding."
On implementing decisions: Continued...




