Trichet moves to shore up eurozone confidence

European Central Bank chief Jean-Claude Trichet has said pessimism over the eurozone is overblown, with the 16-member region unlikely to suffer a double-dip recession.

Mr Trichet struck a cautiously optimistic tone while speaking to journalists on Thursday (8 July) in Frankfurt, after a meeting of the bank's governing board decided to hold interest rates at one percent.

"We are in a situation where a number of facts and figures and data are not, I would say, confirming that we w...