Wednesday, 31 August 2011

ECB´s Trichet: The euro is safe and stable - forever

The euro in good hands (official ECB image)

ECB president Jean-Claude Trichet again has used the same old trick in defense of the euro:

The euro is a strong currency that has managed to maintain its value over time while European governments have been trying to cope with the effects of the global economic crisis, European Central Bank President Jean-Claude Trichet said Tuesday.
The euro zone is facing credibility problems because of the problems of some of its member states and not because of a euro-zone-wide issue, Trichet said.

Read the entire article here


Trichet´s (and the other euro propagandists´) way of reasoning is quite revealing. In reality it means, that whatever happens in the real world, it can always be blamed on individual members states. The euro as such is safe and stable - forever.

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