Trichet: As the financial market turbulence developed, central banks in Europe and across the globe strengthened the already high levels of cooperation, first, through enhanced information exchange and collective monitoring of market developments and, later on, through coordinated steps to provide liquidity.
I would like to emphasise that the ECB was one of the first central banks in the world to react immediately, on August 9th, 2007, when we saw the first elevated tensions on the money markets.