European Central Bank (ECB) President Jean-Claude Trichet probably thought he had enough problems. G...
European Central Bank (ECB) President Jean-Claude Trichet probably thought he had enough problems. Growth in the euro area is weak, the euro keeps rising against the dollar, and the Stability & Growth Pact has collapsed. And now? He has to worry about Hungary. With high interest rates and a mounting fiscal crisis, Hungarian lawmakers are debating a proposal that would increase political control over its central bank. In response, Trichet has scheduled a meeting with Hungarian Finance Minister Tibor Draskovics, after already warning the proposal might violate the rules for euro membership. ...
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