Jean-Claude Trichet

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Europe Cuts Rates Less Than Expected to 1.25%

Economists, markets had hoped for 50-point cut

(Newser) - The European Central Bank cut interest rates today by 25 basis points, less than expected, to 1.25%. Economists had widely expected a cut double that size, reports the Financial Times, and financial markets soared on the news this morning. The ECB has been more hesitant to cut rates than... More »

US-Style Stimulus Might Not Be Right for Europe

To each economy its own, says central bank head

(Newser) - Today, in newspapers worldwide, President Obama called on nations to stimulate their economies, but Europe isn't sold on the idea. Europe's leaders are viewed as cautious, but perhaps their “policy is appropriate for European conditions,” Jack Ewing writes in Der Spiegel. For one thing, Europe already spends much... More »

Euro Bank Chief Slams US on Stimulus

Central bank chief says nations must get the last effort right

(Newser) - The head of the European Central Bank says the continent does not need to spend more to combat recession, heightening the standoff between Washington and European governments over response to the financial crisis. In an interview with the Wall Street Journal, Jean-Claude Trichet said governments should concentrate on executing measures... More »

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