15 October 2004, 14:22  ECB's Trichet says oil heightens recovery risk

Risks and uncertainties to the euro zone economy have increased due to surging oil costs, European Central Bank President Jean-Claude Trichet told Bloomberg on Friday. "It is true that uncertainties are augmenting with the increase in the price of oil and the uncertainty on the future price of oil," he said in an interview with Bloomberg in Berlin. He also said that the price of oil is "too high". "There is perhaps an overshooting that we are observing today, and I hope that all partners live up to their responsibilities (so that) ... we will observe perhaps a better evolution," Bloomberg quoted Trichet as saying.|||

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