Trichet Warns Against “Beggar-They-Neighbor Policies”

ECB President Jean-Claude Trichet Tuesday warned against “beggar-they-neighbor policies” and “wars of any kind,” in remarks that appeared to be aimed at countries that resort to competitive currency devaluations. “What we need today is not ‘wars’ of any kind, but a strong and renewed commitment to confident and resolute cooperation,” Trichet said in a speech given at the Economic Club of New York. – iMarketNews

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