Trichet Pressures Germany to Fast-Track Approval

European Central Bank President Jean-Claude Trichet, urged Germany to move as quickly as possible to approve a bailout package for Greece. Stressing the need to send a clear message to the markets to calm jittery investors, Trichet said European leaders needed to focus on a common “sense of direction” to stave off a greater fiscal crisis.

“A fast parliamentary procedure” in Germany on the Greek package is “highly recommended in the present circumstances,” Trichet said in a speech in Munich today. “What we need most at this time is a strong sense of direction. We need a sense of direction that can guide us on how we can emerge from these turbulent events.”

Source: Bloomberg

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