The euro zone's struggle with the sovereign debt crisis by no means is done but instead it requires more work, departing European Central Bank chief Jean-Claude Trichet told a German newspaper during an interview, Reuters reports.
In preparation for his final work day on Monday, the Frenchman submitted to an interview with Bild am Sonntag newspaper for what likely will be his final media interview while ECB president. Trichet's lasting legacy after leading the bank for eight years is likely to be the past two years when the debt crisis reared and inflicted damage.
Leaders from euro zone nations early Thursday morning announced an agreement on the European Financial Stability Facility, a fund that aims to rein in the debt scourge and isolate it while preventing its spread. Aftermath of the Brussels summit initially was enthusiasm but that since has dropped.
"The decisions reached at the summit need a very precise and timely implementation," he reportedly told the publication. "The euro zone's government leaders have a program, now hard work awaits the governments and European Commission. The quick and complete implementation of the decisions is now absolutely decisive."
Though the debt scourge inflicts significant damage, Friday saw the euro notch a third weekly advance when compared to the U.S. dollar, according to Bloomberg.
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