"But I'm saying: look at what's going on," he said, adding "in the current economic situation, the Fed cuts rates, the ECB doesn't cut them."
Trichet said in a speech on Thursday night that independence is the cornerstone of the bank's monetary policy because it "allows the central bank to pursue its primary objective and to take full responsibility for its action."
Merkel reiterated her stance, saying "even the slightest hint" that the ECB was not independent could endanger the euro's stability.
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