Trichet: Avoid Another Lost Decade At All Costs

European Central Bank president Jean-Claude Trichet said that governments and consumers do not need another lost decade, and we must ensure that the transition from high debt to fiscal responsibility happens orderly, Reuters writes.

"The primary macroeconomic challenge for the next 10 years is to ensure that they do not turn into another 'lost decade,'" Trichet said at Jackson Hole, Wyoming, where the Federal Reserve held its annual economic meeting.