EP President Buzek also stressed: “We are still a strong defender of euro zone enlargement. We (the European Parliament) also adopted five major proposals [in the financial sector], and next week we will sign them in Strasbourg. There are also new proposals such as the directive on alternative investment fund managers and we want to regulate hedge funds and private equity:  The creation of a new financial architecture is very important for the European Parliament, with a strong single EU supervisor at the centre, the decision will be taken in the next few months.”

European Parliament President Jerzy Buzek recalled: “We have quarterly meetings between the EP Economic and Monetary Affairs Committees and European Central Bank, closer co-operation between the two institutions is necessary given the current economic circumstances.”

On the G-20 preparation, EP President Buzek said: “Six EU Member States plus the Swedish Presidency, and Commission will attend.  It is very important to prepare ourselves at the level of the whole EU.”

European Central Bank President Jean Claude Trichet said: “I appreciate that there is a level of unity at the global level.  There is a tendency in certain circles to consider that we are back to normal in certain areas, we should now concentrate on reforming what needs to be reformed, lessons should be learned, we would not be forgiven if we do not do all what is necessary to avoid a repetition of what we have observed. ”

“I will repeat what I said at the G20 (finance ministers' meeting) - it is not time yet to say that the crisis is over, at the same time  it is very important to be convincing on path towards a normal sustainable position.”