European Central Bank President Jean-Claude Trichet is urging policymakers to maintain fiscal responsibility when developing economic rescues. Trichet warned that fiscal indiscipline could further hinder confidence in the financial system and increase investors' nervousness about the funding needs of governments. He said EU nations should continue to adhere to the "stability and growth pact". "We would destroy confidence if we blew up the stability and growth pact," Trichet said.

Related Summaries