Trichet says toxic clean-up needed
Forcefully addressing the toxic-asset problem is a precondition for reviving credit on both sides of the Atlantic, said Jean-Claude Trichet, the president of the European Central Bank.
Trichet said that where necessary, banks should take full advantage of government measures, particularly as regards recapitalisation.
He also said that economic activity was expected to continue declining for the remainder of the year, but significantly less strongly than it did in the first quarter of 2009. He
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