2
October
ECB chief warns strong dollar needed for stable growth
2 October 2009 AFP
The head of the European Central Bank on Thursday warned that large currency fluctuations could derail economic revival, the latest in a series of remarks urging the return of a strong dollar.
"As I see the situation, there is a very strong sentiment that we have a shared interest in a strong and stable international financial system," Jean-Claude Trichet told reporters in Sweden, days from a G7 meeting.
"Excessive volatility and disorderly movement in exchange rates has adverse implications for economic and financial stability," Trichet added.
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