European Central Bank President, Jean-Claude Trichet, has said the current global financial crisis has triggered an extraordinary level of uncertainty and requires governments to respond with equally unprecedented measures.
Trichet made his comments after announcing that the ECB would not raise its benchmark interest rate at this time. The ECB chief called the crisis the worst upheaval since World War Two. Meanwhile, French President Nicolas Sarkozy has called a meeting in Paris for Saturday with leaders from Britain, Germany and Italy to shape a European response to the crisis.
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