Statement following the meeting of the Heads of State and Government on 11 February 2010

Jean-Claude Trichet, President of the ECB
11 February 2010

Following the meeting of the Heads of State and Government on 11 February 2010 in Brussels, Jean-Claude Trichet, President of the European Central Bank (ECB), made the following statement:

I consider the statement of the Heads of State and Government on Greece important in particular as regards the following points:

1. The reaffirmation of the necessity for all member states to conduct sound national policies in line with the agreed rules.

2. The commitment of the Greek Government to do whatever is necessary, including adopting additional measures to ensure its ambitious targets and in particular the 4 % reduction of the public finance deficit in 2010.

3. I confirm that the ECB will work with the European Commission in monitoring the implementation of the recommendations by Greece and will work with the European Commission on proposals for necessary additional measures. One can count on our permanent alertness in this respect.

4. I appreciate the commitment of euro area member states to take determined and co-ordinated action, if needed, to safeguard financial stability in the euro area.