European Central Bank president Jean-Claude Trichet said he has "full confidence in the solidity of the euro." Speaking on the sidelines of a banking conference, Trichet said however that Europe's moves towards greater financial and economic integration were too slow, and that carried substantial opportunity costs. "We are proceeding too slowly but we are proceeding," he said. "The opportunity of not proceeding more rapidly is very high." Trichet declined to comment directly on the votes against the EU constitution in France and the Netherlands but he conceded that public sentiment in some countries was not fully in favor of greater integration. "You have a number of economies where indeed the public opinion is not yet fully convinced," he said. But he added that at official levels there is an overwhelming consensus on the need for reform in Europe.