EU's Trichet Says He Is Starting to See Improvement

Headline Alert

Economic Update: Trichet Seeing Improvement

Speaking in London, Reuters reports that the EU’s Jean Claude Trichet says that he is starting to be able to see past the current crisis.

The headlines from his presentation include:

• The strains on EU financial system are diminishing
  
• Still sees some deleveraging at some financial institutions
  
• The recovery in some areas is "significant"
  
• The unwind of enhanced credit support is already underway and needs to be done in a "timely and orderly fashion
  
• Trichet urges banks to strengthen capital position

 

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