2008.12.1507:36:00UTC+00Trichet Stresses Need For Stability, Growth Pact

Ignoring the growth and stability pact between EU nations would have impact on the already weaken economic confidence, European Central Bank President Jean-Claude Trichet said Monday.

According to a text of an interview with the Financial Times published on the ECB website on Monday, Trichet said, "We are in a market system that punishes those who behave improperly."

Regarding the role of a fiscal stimulus in mitigating the effects of this crisis, Trichet said, "We have to be mindful of the spreads on the various treasuries, and of the fact that the market is aware of the room for manoeuvre of the various countries."

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