Credible Fiscal Consolidation Key For Confidence

Governments around the world need to address excessive budget deficits in order to reassure investors, as the global economic recovery continues, European Central Bank president.

Speaking in his capacity as chair of the Global Economy Meeting that brings together central bankers from major industrial and emerging market economies, "it seems to me that, at the global level, there is a confirmation of the progressive normalization of the economy," but cautioned that challenges remain.