Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Gaza: A Truce At All Costs?

Read more

AFRICA NEWS

Central African Republic: Brazzaville ceasefire talks deliver fragile deal

Read more

FOCUS

Sluggish tourist season in Crimea

Read more

ENCORE!

Bartabas : Mixing Christ with Spanish music and dancing horses

Read more

IN THE PAPERS

Shifts in the propaganda war waged between Israelis and Palestinians

Read more

IN THE PAPERS

French MPs face quandary in pro-Palestinian rallies

Read more

THE INTERVIEW

Yezid Sayigh, Senior Associate at the Carnegie Middle East Center in Beirut

Read more

#TECH 24

Mind the Gender Gap : getting more women into the tech sector

Read more

INSIDE THE AMERICAS

Bolivian children: heading to work aged 10

Read more

  • Wreckage of Algeria plane found in Mali

    Read more

  • Air Algérie crash: 'We should eliminate the missile hypothesis'

    Read more

  • BNP to pay $80 million for defrauding US Dept of Agriculture

    Read more

  • Protest turns deadly as Palestinians rally against Gaza offensive

    Read more

  • Pope meets with Sudanese Christian woman sentenced to death for apostasy

    Read more

  • Deadly strike on UN shelter in Gaza Strip

    Read more

  • Italy’s Nibali cruises to easy victory in 18th stage of Tour de France

    Read more

  • Iraqi parliament elects moderate Kurd as president

    Read more

  • US, European aviation agencies lift travel restrictions to Tel Aviv

    Read more

  • No end to fighting until Israel ends Gaza blockade, Hamas says

    Read more

  • Two foreign women shot dead in western Afghanistan

    Read more

  • At least 60 killed in attack on prison convoy near Baghdad

    Read more

  • Cycling is ‘winning the war on doping,’ says expert

    Read more

  • Ceasefire agreed for Central African Republic

    Read more

Business

European Central Bank chief sees recovery in 2010

Latest update : 2009-04-10

Jean-Claude Trichet, president of the European Central Bank, has "confirmed" that he believes the world economy will recover in 2010 after a "very bad" 2009. He added that he believed current stimulus plans were "generally sufficient".

AFP - The head of the European Central Bank Jean-Claude Trichet said Thursday that the world economy would recover next year after a "very bad" performance this year.

"I confirm... that after a very bad 2009, the recovery should start during 2010," he said during an interview on French channel TV5 Monde Europe.

He also urged that "very important" decisions taken by G20 leaders at a summit this month be put in place "very rapidly."

"I believe that we all have elements to put in place very quickly, which the whole world expects," he said.

Among other measures, the Group of 20 developed and emerging economies agreed to commit one trillion dollars to the International Monetary Fund (IMF) and other global bodies to help struggling economies.

Trichet also suggested that the European Central Bank could decide on another "measured" cut to its main interest rate.

The ECB surprised analysts last Thursday by cutting its rates by only 0.25 percent to 1.25 percent when a larger cut had been expected.

Commenting on the need for further fiscal stimulus, he said: "The stimulus plans that have already been approved are generally sufficient."

He stressed that financial limits had to be taken into account, with governments raising billions of euros (dollars) of debt to pay for the expensive packages.

Date created : 2009-04-10

COMMENT(S)