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Trichet: No Doubt On Countries' Efforts To Bring Financial Stability

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There is no doubt that Greece and other Eurozone members would take appropriate steps to bring financial stability in the region, European Central Bank President Jean-Claude Trichet told RTL radio on Sunday.

"I have no doubts myself, at the moment I am speaking, about the sincerity of the Greek accounts," Trichet said in an interview. "I have no reason to doubt about the sincerity and transparency of the accounts of any other country," he said. "We have a Greek problem."

He asked Greece to strengthen the verification of its figures saying that incorrect statistics will not be tolerated.

Greece's public debt is at a staggering EUR 300 billion, with its deficit rising to 12.7%, four times higher than Eurozone rules allow. On February 11, European leaders have reached a deal to help Greece tackle its debt crisis and pledged to bring stability in the Eurozone. They said Greece must take more measures to control its huge debt and needs to cut its budget deficit by 4% this year.

Trichet said he is satisfied with the measures Greece has taken so far to reduce the debt level. "I'm waiting for the Greek consolidation plan to be implemented," he added.

(Market News Provided by RTTNews)

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