"I am fully confident that the American representatives, as well as all other members are interested in implementing the new standards - Trichet said at a press conference held at the Bank for International Settlements (BIS) in Basel. - Applying best efforts, concerned observers should monitor the implementation of those standards, we have adopted at the global level. "
In addition, the head of the ECB stressed that the new rules will increase the flexibility of the banking system and accelerate the pace of recovery of the world economy.
"We foresee a transition period without any threats to the economic recovery that we are witnessing on a global level. This will positively affect the world economy, on economic growth ", - said Trichet.
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