In an exclusive interview with DAF Deutsches Anleger Fernsehen Jean-Claude Trichets talks about the current fight against the debt crisis. DAF's Andreas Scholz had a chance to talk to the former president of the ECB at the St. Gallen Symposium.
""I think we indeed are since 07/08 in the worst crisis since World War II and it could have even been more dramatic than since World War I because we could take decisions that avoided the great depression that was threatening", Trichet says in St. Gallen. "Now what I would say is that a lot of hard work has been done. In all advanced economies at a global level, in the euro area and in Europe as a whole", Trichet continues. "From that standpoint I would say, yes, hard work has been done - but we are only halfway - and a lot still has to be done. When we look at the situation today and compare this with the situation two years ago, then of course we have done a lot. I am sure that Draghi is doing a great job. As the leader of the Governing Council which has taken all those difficult decisions, yes they are doing a very good job."
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""I think we indeed are since 07/08 in the worst crisis since World War II and it could have even been more dramatic than since World War I because we could take decisions that avoided the great depression that was threatening", Trichet says in St. Gallen. "Now what I would say is that a lot of hard work has been done. In all advanced economies at a global level, in the euro area and in Europe as a whole", Trichet continues. "From that standpoint I would say, yes, hard work has been done - but we are only halfway - and a lot still has to be done. When we look at the situation today and compare this with the situation two years ago, then of course we have done a lot. I am sure that Draghi is doing a great job. As the leader of the Governing Council which has taken all those difficult decisions, yes they are doing a very good job."
Hier geht's zum Video