Brussels Economic Forum 2008: extracts from the speech by Jean-Claude Trichet, President of the European Central Bank

Type: Report   Reference: I-057317   Duration: 11:25:09  Lieu:
End production: 16/05/2008   First transmission: 16/05/2008
In his keynote speech at the 9th Brussels Economic Forum, Jean-Claude Trichet, President of the European Central Bank, said there was no place for complacency on inflation. He further told participants that price stability in the medium term had to be permanently ensured and that it was a pre-requisite for sustainable growth and job creation. Jean-Claude Trichet emphasized that the ECB has always taken firm and timely action to pursue monetary policy which best serves the ultimate objective of maintaining price stability. He also encouraged Member States to continue implementing courageous structural reforms aiming at increasing the flexibility of all markets, at supporting innovative environments, and therefore increasing the growth potential of Europe and strengthening the resilience of Europe's economy. He said that the remaining structural rigidities were the main reasons for the relatively modest growth performance compared with Europe's potential.

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TIME DESCRIPTION DURATION
11:22:24 Title 00:00:05
11:22:29 Exterior view of the Charlemagne building 00:00:06
11:22:35 Arrival of Jean-Claude Trichet, President of the European Central Bank, and of Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs 00:00:07
11:22:42 Cutaway of photographers 00:00:08
11:22:50 General view 00:00:05
11:22:55 Jean-Claude Trichet (in ENGLISH) saying that there is no place for complacency; price stability in the medium term has to be permanently ensured; credibility is not and is never a given; any institution has to proof that it deserves it by its decisions and actions; as regards the functioning of the Euro area economy, the success obtained in terms of job creation, which is remarkable and should not be under-assessed, has to be complemented and consolidated by continuing to implement courageous structural reforms aiming at increasing the flexibility of all markets, at supporting innovative environments, and therefore augmenting the growth potential of Europe and strengthening the resilience of the economy 00:00:50
11:23:45 Cutaway 00:00:07
11:23:52 Jean-Claude Trichet (in ENGLISH) saying that the stability of inflation expectations has been remarkable particularly considering the series of adverse economic disturbances which have hit the Euro area as well as the entire world economy since its inception; the ECB has always taken firm and timely action to pursue monetary policy which best serves the ultimate objective of maintaining price stability 00:00:31
11:24:23 Cutaway 00:00:06
11:24:29 Jean-Claude Trichet (in ENGLISH) saying that the remaining structural rigidities are in his view the main reasons for the relatively modest growth performance compared with EU's potential 00:00:11
11:24:40 Cutaway 00:00:05
11:24:45 Jean-Claude Trichet (in ENGLISH) saying that what they have in common now is very much that they pursue price stability and that they are convinced that price stability is a pre-requisite for sustainable growth and job creation; and they are independent; it is now a main feature of global central banking 00:00:24
11:25:09 Cutaways (5 shots) 00:00:31
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