Jean-Claude Trichet

“Having announced that interest rates would remain at 1%, ECB president Jean-Claude Trichet said that restarting a programme to buy up government debt had not been considered.”

“The ECB believes that a true quantum leap is needed in the framework for surveillance and adjustment of fiscal policies”

“A more stringent implementation of rules and procedures is essential. The [European] Commission should have greater responsibility by making proposals which can only be modified with unanimity in the…”

“Mr Trichet also called for 'quasi-automatic' sanctions to be applied earlier and to be 'broader in scope' for those countries that break the rules”