ECB's Trichet: low inflation for 10 years
"In the coming 10 years, the inflation rate will most probably stay very low; current expectations are for around 1.8 percent," he told the mass-selling Bild am Sonntag newspaper, in one of the final interviews of his term heading the ECB.
"This means: in the euro zone we have price stability. This is something we are very proud of, and rightly so, because we have achieved what is expected of us."
"We should be very aware of the fact that some ways of behavior on markets caused considerable irritation. One such thing is the level of some bonus payments," Trichet said.
"Banks must raise their level of resistance and avoid behavior that is not in cohesion with the values of our society -- including excessive bonus payments."
He called for stronger European governance, making it possible to implement the necessary measures in those countries that continuously contravene the stability criteria and endanger the financial stability of the euro zone.
Source: Reuters US Online Report Business News
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