It is "absolutely imperative" to strengthen surveillance, implement the stability pact and encourage economic recovery in the euro area. This is the alarm launched today by Jean Claude Trichet, president of the European Central Bank, speaking during a conference at the Montaigne institute in Paris.
The Eurotower number one also warned of the need to step up aid to Greece as soon as possible, as agreed at the summit on 21 July. Finally, according to the French banker, direct interventions by the EU would be appropriate in those countries that prove to be incapable of pursuing adequate policies for fiscal consolidation.
