Trichet testifies before European Parliament

In testimony before the Committee on Economic and Monetary Affairs of the European Parliament given on 1 December Jean-Claude Trichet of the ECB said since Wim Duisenberg's last testimony in September data have confirmed the ECB's main scenario, which is one of a gradual improvement in economic activity starting in the second half of this year. Eurostat has provisionally estimated that quarterly real GDP growth was 0.4% in the third quarter of the year, he added.

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