Trichet: economic, not monetary, reform of EMU necessary
Jean-Claude Trichet, the president of the European Central Bank (ECB), on Thursday warned that fiscal adjustments in eurozone countries alone would not be sufficient to ensure stability on the continent and called for broader economic reforms.
In his speech at the 9th Munich Economic Summit, Trichet said structural reforms would be a vital part of rebuilding the resilience of Europe's economies and would induce more balanced growth in the future. "We need to resolutely improve the effectiveness
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