for trichet, European treaties should be modified

For the President of the ECB, the euro is "not threatened", but he called all Europeans to be "extremely vigilant" with regard to public finances.

As his term ends at the head of the European Central Bank (ECB) October 31, it is not a Jean-Claude Trichet to lecture who spoke Sunday at the Grand Rendez-Vous on Europe 1 / Le Parisien-Aujourd'hui en France / i> Télé, to discuss the crisis at the moment Europe.

With his experience of eight years at the head of the institution, who was also governor of the Banque de France, has recommended that Europeans hear the messages addressed to them. His advice? First, be "extra vigilant" with regard to public finances. Rejecting the idea that the euro area and its currency are "threatened" by the crisis, it nevertheless stated that "all countries without exception must be extremely careful." "Protect yourself rather than cure," he summarized, adding that "it depends on us that we can have the least slower growth."

Then you have to "think about the future," stressed the President of the ECB. "Tomorrow, I think we need to change the treaty to be able to prevent a member of the euro area to roam and create problems for everyone else," he said, referring to the Greek crisis that Europe in a hard to control. He called for a reform that would make the European Council "able to impose decisions" in a country slide, with "possible sanctions".

It includes some of the "outraged"
"We must strengthen the management and governance of globalization in all fields," he also said in reacting to the movement of indignation that spreads in several major cities. "There are obviously a number of lessons from the crisis that the lessons are harsh: it is not possible to leave a financial system and consequently a global economic system that is as fragile." This does not mean "demolish" the banks, he insisted, recalling that "pay three-quarters of the economy."

That he referred to as de-globalization theme is in vogue right now, as advocated by the Socialist-Arnaud Montebourg, and one can imagine Jean-Claude Trichet tense in his chair ... and find that it is a call to strengthening of global economic governance.