Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Hundreds of Malawians arrive in Blantyre after wave of xenophobic attacks in South Africa

Read more

MEDIAWATCH

Reactions to the "bookkeeper of Auschwitz" trial

Read more

DEBATE

Judging the Past: Auschwitz 'bookkeeper' goes on trial in Germany (part 2)

Read more

DEBATE

Judging the Past: Auschwitz 'bookkeeper' goes on trial in Germany (part 1)

Read more

EYE ON AFRICA

Al-Shabaab bomb kills 4 unicef workers in Somalia

Read more

ENCORE!

Caitlin Doughty invites us to 'Ask a Mortician'

Read more

FOCUS

Serge and Beate Klarsfeld publish memoirs of Nazi-hunting years

Read more

THE BUSINESS INTERVIEW

'Liberalism is a French tradition', says France's most liberal man

Read more

EYE ON AFRICA

Xenophobic attacks in South Africa prompt regional crisis

Read more

Europe is not like the US, says ECB president

Latest update : 2008-10-03

ECB President Jean-Claude Trichet says Europe does not need a US-style bailout plan, but he warned that the world had not been in a similar economic situation since 1945.

Watch part 2 of the Talk of Paris with ECB President Jean-Claude Trichet

 

The financial crisis has brought the world to an extraordinary level of uncertainty and governments must respond with equally unprecedented measures, the European Central Bank president said Thursday
   
"Nothing in the past resembles what we are currently seeing," Jean-Claude Trichet told France 24 news channel. "We are in the presence of events that we have not been seen since World War II."  
   
This is "a period of absolutely exceptional uncertainty (that)... calls for responses that match the events" from both the public and private sector, he said.
   
"We must review absolutely all the elements of the global financial system to ensure this does not happen again," Trichet added.
   
French President Nicolas Sarkozy on Monday repeated his call for a global summit on "a new international financial system."   
   
Sarkozy has called a meeting in Paris on Saturday with the leaders of Britain, Germany and Italy amid sharp divisions among the four biggest European economies over how to respond to the global financial crisis.
   
US senators on Wednesday passed a new 700-billion-dollar bailout of the debt-stricken US financial system but it failed to lift Wall Street's gloom.
   
Trichet said Thursday that as far as he knew "there was no proposal for a plan equivalent to the one in the United States."
   
 

Date created : 2008-10-02

COMMENT(S)