Trichet Talks About Euro Economic Outlook

It's really embarrassing.

This is what ECB Bank President Jean-Claude Trichet said when asked about the Euro Zone Economic outlook at a news conference. Posted on CNBC. hEuro Zone Economic Outlook Uncertain: Trichet

• Default is, for me, out of question. It's as simple as that," he said. "We did not discuss the matter and I have nothing else to say than that."
• Greece and Portugal are "not in the same boat," he said when asked about Lisbon's problems.
• He did not want to comment on the euro's slide against the dollar, but said the single European currency benefited from the central bank's staunch fight against inflation.
  "The euro is a good store of value…over 12 years we maintained price stability in an exemplary manner," Trichet said.
• He also said the bank did not discuss the option of buying euro zone government bonds during its meeting.
• "We consider that belonging to the euro… has brought about an enormous amount of advantages," Trichet said when asked about increased criticism of the euro.
  "Of course it also calls for responsible attitude" in regards to fiscal policies, stricter reforms and "the appropriate monitoring of unit labor costs," Trichet added.