Italy’s Austerity Efforts Are a ‘Work in Progress,’ Trichet Says

Oct. 6 (Bloomberg) -- Italy’s efforts to reduce its budget deficit remain a “work in progress” even after the passage of a 54 billion-euro package of austerity measures, European Central Bank President Jean-Claude Trichet said.

“There have been some decisions that have been taken in pricinciple, then they were a little bit challenged and then finally implemented,” Trichet said at a press conference in Berlin. “This is of course a work in progress.”

Trichet said the bank “insists on structural measures.”

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