Euro not in crisis, surveillance needed: Trichet

27th January 2011, Comments 0 comments

The head of the European Central Bank Jean-Claude Trichet said Thursday that Europe's common currency is not in crisis but that greater surveillance is necessary.

"There is no crisis of the euro currency," Trichet told a public forum organised as part of the annual Davos gathering of industry and political leaders.

Individual countries in the European Union may have debt problems, but the eurozone itself is sound, he stressed.

However, the central banker pointed out that two elements were key for the health of the eurozone -- "good individual behaviour" and surveillance, which "has to be improved."

© 2011 AFP

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