Trichet ready to supervise banks

Article reports that Jean-Claude Trichet, European Central Bank President, said to the European Parliament's Economics Committee on the 21 January 2009 that the ECB 'stood ready' to take on European bank supervision responsibilities and pointed out that granting the ECB the necessary legal powers would be relatively easy.

The ECB President’s comments were the strongest indication yet that he sees a beefed-up role for the eurozone’s monetary authority as necessary to help prevent future financial market crises.

European Parliament: Press Release, 21.1.09: ECB's Trichet sees economic pick-up in 2010 http://www.europarl.europa.eu/news/expert/infopress_page/042-46607-019-01-04-907-20090119IPR46606-19-01-2009-2009-false/default_en.htm

ECB: Press Release, 21.1.09: Introductory statement by Jean-Claude Trichet, President of the ECB, Brussels. 21 January 2009 http://www.ecb.eu/press/key/date/2009/html/sp090121.en.html

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