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Trichet calls for rapid implementation of Greek bailout

Trichet calls for rapid implementation of Greek bailout
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European Central Bank President Jean-Claude Trichet has urged eurozone governments to quickly implement the second bailout agreed on July 2 to help Greece.

Trichet made the comments in front of a special session of the European Parliament’s economic committee in Brussels.

Speaking to euronews the ECB head also called for more action from eurozone leaders to stem the bloc’s on-going debt crisis.

“We are experiencing an episode in the history of the world, which is very very special. It is the gravest financial crisis – that is economic crisis – since World War II,” he said.

“So it is something which is big. It’s big in Europe, it’s big in the US, it’s big in Japan, it’s big in the rest of the world. We have to draw all the consequences form this crisis, in all domains, including of course the financial markets and the financial sector domain where a lot of reforms have to be implemented very rigorously and in Europe in particular we have a problem of improving our governance.”

Trichet’s words add to growing calls for eurozone leaders to act with fears Europe and the global economy is once again heading towards recession.