ECB urges crackdown on spending

The European Central Bank urged governments on the 26 February 2009 to impose strict controls on public spending and wages as fresh data showed the region’s recession deepening and unemployment rising at a faster pace.

ECB: Speech, 26.2.09: The external and internal dimensions of Europe’s competitiveness http://www.ecb.int/press/key/date/2009/html/sp090226.en.html

Irish Times, 26.2.09: Irish economy faces severe challenges, says Trichet http://www.irishtimes.com/newspaper/breaking/2009/0226/breaking30.htm

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