Basel, Switzerland (AFP) - central bankers said Monday that the financial strength has been key in maintaining the health of the global economy, the European Central Bank Chief Jean-Claude Trichet said after a meeting of BIS.
"It was absolutely clear understanding by us all this financial strength - and this is true for all globally-... certainly was very important for the health of the global economy, to consolidate", said the head of the ECB. ""
"Message for economies is to have sound fiscal policies," Trichet stressed after a regular bi-monthly meeting of a group of major central banks in the Bank for international settlements.
Trichet comments came Portugal is faced with increasing pressure on its high debt, with many analysts, he listens as the next euro area countries most likely to seek a bailout after the Ireland and the Greece last year.
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