Central banks urge budget corrections: Trichet

9th May 2011, Comments 0 comments

Central bankers are pressing advanced economies gradually to improve their fiscal situations, European Central Bank chief Jean-Claude Trichet said on Monday after a meeting here.

Trichet said after the regular gathering with other leading central banks that there was no reason for complacency even though an economic recovery is confirmed.

"The fiscal situation in the advanced economies has to be progressively improved in order to face up with what is one of the deficiencies what we see," Trichet told journalists, underlining that the fiscal issue was regarded as "very important."

The ECB chief added that it was "true for all of us, including of course in Europe."

© 2011 AFP

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