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    Stable institutions, steady pursuit of reforms will steer India to 2047 goal: Jean-Claude Trichet

    India's journey to becoming a developed nation by 2047 hinges on institutional stability and sustained economic reforms. Former European Central Bank president Jean-Claude Trichet emphasizes the importance of resilient democratic institutions. He cautions against the risks posed by global over-indebtedness and market corrections. Trichet believes AI will bring challenges and benefits in the long run but highlights the need for global regulations.

    He also favors giving the European Union powers to veto the budget measures of countries that go 'harmfully astray'.

    Jean-Claude Trichet is bypassing the European Central Bank's (ECB) little-known secondary mandate as inflation propels policy makers toward the first interest-rate increase in three years.

    Emerging economies are facing clear signs of inflationary threat, European Central Bank chief Jean-Claude Trichet said Monday after a meeting with fellow central bankers.

    Trichet says his successor will need to be prepared to act in exceptional circumstances.

    European Central Bank president Jean-Claude Trichet said European governments should consider extending and broadening the region’s bailout fund to help fight the fiscal crisis.

    The Economic Times
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