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Trichet: Crisis needs three-pronged approach
October 19, 2011 / 4:40 PM / 6 years ago

Trichet: Crisis needs three-pronged approach

FRANKFURT (Reuters) - Managing the euro zone’s debt crisis requires a three-pronged approach of reinforcing the bloc’s bailout fund, bolstering weak banks and helping Greece, ECB President Jean-Claude Trichet said on Wednesday.

“What is now necessary is to clarify crisis management in three dimensions: reinforcing the EFSF’s capacity to ensure financial stability ... strengthening the balance sheets of the European banks; and working out an appropriate solution for Greece’s medium term adjustment,” Trichet said in a speech to mark the end of his eight years as ECB President.

(For full speech please click here)

Reporting by Marc Jones, editing by Mike Peacock

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