Germans are not happy a day after the European Central Bank moved to support Eurozone nations, like Greece, who are deep in debt.

“The credibility of the European Central Bank is on the line following a decision to intervene in financial markets under a eurozone rescue plan. ECB president Jean-Claude Trichet claims he had no other option.” (from DW-World.de)

“Trichet has been under fire ever since eurozone finance ministers agreed over the weekend to launch an unprecedented aid package worth 750 billion euros ($1 trillion). The scheme is designed to rescue the euro as the effects of the Greek fiscal crisis spill over into other indebted nations in the eurozone. In a nutshell, it allows the ECB to buy government bonds issued by eurozone nations in financial trouble.”

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From Reuters

“We consider that it is not the time to start the exit and it is not the time to say that the crisis is over,” Trichet said in an interview screened on Monday by broadcaster CNN.

Trichet added it was extremely important to have a strong dollar.

“President Obama says that a strong dollar is in the interest of the United States of America. I trust that and I trust it is true,” he said.

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