Brussels, 01/10/2001 (Agence Europe) - The beginning of the week was marked by an increase in optimism in the euro and in economic recovery in Europe. In an interview with the French daily Liberation, the Vice-President of the European Central Bank (ECB) Christian Noyer considered that "definitive conclusions should not be draw from the month of September alone" to judge the financial perspective in the euro zone. "I believe that fundamental factors will win the day over sporadic events (…) In other words, the economy will be affected in the short-term but should bounce back quickly enough. It would be a mistake to give in to pessimism", declared Mr. Noyer, also pleading in favour of the respect of the Stability and Growth Pact.
To speak of recession in the European Union "has no sense", said Commissioner Pablo Solbes, for his part, in an interview that appeared on Sunday in the Spanish daily El Pais. "Let's rather speak of a slight problem for growth that we shall overcome"", he added, considering that "what needs doing, it is to remove the uncertainties and use the euro as best as possible". The Commissioner nevertheless did acknowledge that the recent attacks on the United States distances somewhat the EU from the growth target of 2%.
As for the Governor of the Bank of France, Claude Trichet, he declared to the weekly Le Revenue francais: (We (the ECB: Ed) have faith in the fall in inflation in Europe. Nothing is won yet, and we must remain vigilant. But I believe I can express this confidence at European and French levels". He then went on to say that there was no need for price blocking measures at the time of the changeover to the euro. "I believe in he efficiency and responsibility of companies, the perception of their commercial interests of course and the vigilance of consumer associations", he said, whereas, 85% of the French are in favour of a temporary block on prices, according to a poll carried out by the weekly.