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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (36414)	7/1/2008 12:23:35 PM
From: Haim R. Branisteanu	Respond to of 218841

Tsy Secy Paulson: Discussed Global Currencies With Trichet FRANKFURT (Dow Jones)--U.S. Treasury Secretary Henry Paulson said Tuesday that he discussed the situation of global currencies with European Central Bank President Jean-Claude Trichet. "We talked about currencies, not just the dollar and the euro, but currencies on a global basis, in Asia," Paulson told a small group of journalists, but he declined to reveal details of the discussion.. He made the remarks following meetings with ECB President Jean-Claude Trichet and ECB council member and Deutsche Bundesbank President Axel Weber Tuesday. Paulson said his meeting with Trichet was private. "Again, he is someone I've known for a long time, and we talk regularly on the phone," Paulson said, noting that Trichet has just returned from the annual meeting of the Bank for International Settlements in Basel Monday. Monday, the euro again rose above $1.58 and is currently trading around $1.5780 in London. Paulson said topics of the meetings included economic issues in both the U.S. and Europe. "You can't talk about economic issues without talking about inflation, and when you talk about inflation you are quickly talking about food and about oil," Paulson added. Paulson noted there was discussion about capital market regulation "We talked a lot about capital markets, as I did with Axel Weber, talking about regulatory issues," Paulson said. "We share common objectives." Paulson said there has been "real cooperation and real communication" on regulatory issues, noting both sides share information on what is going on in markets. Paulson also exchanged views with Weber on the German economy and the challenges faced by German banks. Paulson said he will attend a closed-door dinner with members of the German banking community later in the day to discuss global financial issues. Paulson declined to comment on monetary policy issues, adding "if there is one thing I respect, it's an independent central bank setting policy." -By Monica Houston-Waesch; Dow Jones Newswires; +49 69 29 725 520; nikki.houston@dowjones.com