ECB chief welcomes 'important' EU statement on Greece
(FRANKFURT) - European Central Bank president Jean-Claude Trichet welcomed on Friday comments by European Union leaders on the Greek debt crisis, calling their joint statement "important".
Trichet said a statement by the EU heads of state and governement on Greece was "important in particular as regards the following points," which included a call for EU members to "conduct sound national policies in line with the agreed rules."
In addition, Trichet underscored the necessity for Greece "to do whatever is necessary" to meet its debt reduction targets, "in particular the four percent reduction of the public finance deficit in 2010."
Greece has pledged to slash its public deficit of 12.7 percent and the ECB is keen to see progress made right away.
Trichet said the ECB would work with the European Commission to monitor implementation of Greek measures, saying: "One can count on our permanent alertness in this respect."
Finally, he welcomed a pledge by eurozone members "to take determined and co-ordinated action, if needed, to safeguard financial stability in the euro area."
Text and Picture Copyright 2010 AFP. All other Copyright 2010 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.