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Trichet says cuts won't mean stagnation

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Trichet says cuts won't mean stagnation
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European Central Bank President Jean-Claude Trichet has been defending budget cuts by the region’s governments.

In an newspaper interview he said it was wrong to claim that such austerity moves threatened Europe’s economic recovery.

Trichet specifically praised Germany which is embarking on its biggest programme of spending cuts since World War Two.

His comments came ahead of a G20 summit where leaders are split on the issue.