





J.C. Trichet: The current financial crisis is the worst since WWII
The ECB President added that "We must review absolutely all the elements of the global financial system to ensure this does not happen again". The crisis, according to the official, was triggered by generalized under-assessment of the quality of risks, and underpricing.
ECB decided to maintain the monetary policy interest rate at 4.25%, arguing that the risk of inflation has not yet passed.