Trichet says G20 decisions should be introduced quickly

European Central Bank President Jean-Claude Trichet said recent Group of 20 decisions should be introduced quickly and as professionally as possible.

"I would not put the accent on one measure (from the G20) in particular. All are important and have to be considered together. They seem to me to cover all the significant aspects of the crisis," he said in an interview published in Thursday's issue of Italian business daily Il Sole 24 Ore.

"Now the important thing is that they are introduced in a rapid way, quickly and in the most professional way possible," he said, adding the anti-cyclical measures, such as regulation, would be launched progressively.

Government steps to deal with the crisis so far have not always been carried out efficiently, he said.

In an apparent reference to Lehman Brothers, he said the failure of a U.S. investment bank last September had worsened the crisis. The collapse had created a vicious circle, and had characterised the last two quarters.

"I repeat it. We are in a period of correction of the markets (which is) still underway and of very large magnitude."

On bank nationalisation, he said there were two options: the first where the state takes control without changing the private company statute; the second where the state changes the nature of the institution.

Trichet said he preferred the first option, though "in some exceptional cases, however, the control of a credit institution by the state could be necessary and inevitable".

On monetary policy, he said it was essential to take "courageous decisions today", referring to non-conventional measures, also to assure medium and long-term price stability.