CCTV.com - CNTV English - CCTV News

ECB Chairman confident on Basel III

09-14-2010 13:49 BJT

Watch Video

Play Video

European Central Bank Chairman Jean-Claude Trichet says the leading central bankers, who worked on Basel III, are convinced the new measures are a fundamental strengthening of global capital standards. And he says they're set to make a substantial contribution to economic stability and growth.

The Chairman also expressed full confidence the measures will be implemented by U.S. authorities, despite their not having fully adopted the last round of Basel rules. But he declined to estimate how much money banks would need to raise, to meet the new requirements. The Basel III agreement is seen as a cornerstone of the global financial reforms.

Jean-Claude Trichet, Chairman of European Central Bank said "Well, I have to say that again, what has been decided is what is necessary for all banks at a global level, we are in a global economy which is the pertinent entity, economically and financially, and we have to get a level playing field at a global level. I am confident that all the banks all over the world in the advanced economy as well as in the emerging economy because it is also something which has to be underlined, the ownership of these new standards is shared by the advanced economy as well as the emerging economy, the emerging economy as well as the advanced. The change of global governance that has been decided over the last years, is there in action and it is, I have to say, very, very appropriate in the present."

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program