ECB sticks to Bank of France view on SocGen

Fri Jan 25, 2008 3:21pm EST
 
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FRANKFURT (Reuters) - The European Central Bank President Jean-Claude Trichet said on Friday he is sticking to the Bank of France in its assessment of the rogue trading scandal at French bank Societe Generale.

Trichet said in an interview on CNN television, which was carried out at Davos, that the ECB itself had no responsibility for banking supervision.

"The Bank of France was very clear in their own assessment and we will stick to (that)," he said.

On the euro zone economy, Trichet said the assessment given after the last ECB meeting, when rates were left unchanged at 4 percent, was still valid.

"On the basis of all information I have, I would say we have a baseline scenario which is ongoing growth with risks on the downside," he said.

(Reporting by Krista Hughes)

 

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