The head of the European Central Bank, Jean-Claude Trichet, has stressed that US lawmakers must pass their government's financial bailout plan.
Trichet described the credit crunch as the worst upheaval since World War Two, adding it has triggered an extraordinary level of uncertainty worldwide. On Thursday, Trichet announced that the ECB would not raise its benchmark interest rate. Meanwhile the leaders of the European Union's four biggest economies, Germany, Britain, France, and Italy are to meet in Paris on Saturday to discuss the global credit crisis. There have been suggestions that the EU set up a similar bail-out to what is being considered in the United States. Germany Trichet: Unprecedented measures needed to tame finance crisis ...
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(Deutsche Welle)
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