ECB president praises Ireland

BizWorld:

The president of the ECB, Jean Claude Trichet, has highlighted Ireland as an example of how countries can succeed within the euro area.

Speaking to The Irish Times, he also said that the present oil-price increases were less likely than previous rises to damage economic prospects, and expressed confidence that Britain would join the euro zone in the future.

When asked why growth was slow in Europe despite the introduction of the euro, Trichet said that economic reform was holding back Europe's economy and pointed to Ireland as an exception.

"There is an overwhelming consensus of academic institutions that the call for structural reform - made not just by us but also by the commission, IMF, OECD and others - is not matched by delivery. Those who have been doing these reforms have been magnificent performers. I quote Ireland," he said.

Trichet sees eurozone growth at 1.9pc

ECB chief praises Ireland as model for growth

Trichet urges reform from Germany, others-pap