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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/euro-remains-credible-currency-ecb.jpg"><img class="alignnone size-full" title="The euro remains a 'credible' currency, the European Central Bank's chief has said" src="http://londonglossy.com/wp-content/uploads/2010/12/min-euro-remains-credible-currency-ecb.jpg" alt="The euro remains a 'credible' currency, the European Central Bank's chief has said"/></a></p>
<p>The euro remains a &#8220;credible&#8221; currency despite the debt crisis that has required the bail-outs of Ireland and Greece, the European Central Bank&#8217;s chief has said.</p>
<p>A day after the ECB extended its special support measures for banks, Jean-Claude Trichet urged European governments to make a &#8220;quantum leap&#8221; towards reforming and cleaning up budgets.</p>
<p>He said in Paris: &#8220;This is no time for complacency.&#8221;</p>
<p>Mr Trichet would not comment on whether the ECB has increased its purchases of government bonds by highly indebted countries like Ireland or Portugal to ease their borrowing rates.</p>
<p>The central bank has kept buying the bonds throughout the debt crisis but refused to say whether it has or will boost that programme now that investor worries about bail-outs have heightened</p>
<p>Trichet insisted the euro itself is not at risk.</p>
<p>&#8220;The euro is a credible currency. The euro is a currency that is considered just as credible for the next 10 years as for the last 12 years,&#8221; he said.</p>
<p>The currency was steady against the dollar on Friday, buoyed by Mr Trichet&#8217;s pledge to extend crisis liquidity measures to banks and speculation the bond purchases are ongoing.</p>
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