European Central Bank (ECB) President Jean- Claude Trichet warned governments not to rely on the ECB to get Europe out of its debt crisis and urged them to step up efforts to tighten fiscal rules.
“Monetary-policy responsibility cannot substitute for government irresponsibility,” Trichet told German lawmakers today in Wildbad Kreuth, Bavaria, according to a text provided by the ECB. “Europe cannot afford to rest halfway, we need to be more ambitious. The proposals that we have seen in Brussels do not go far enough in the ECB’s view.”
