ECB head talks up economic prospect

The world economy will continue to struggle in 2009 but should see a recovery in 2010, the president of the European Central Bank (ECB) Jean-Claude Trichet has predicted.

Mr Trichet made the forecast in a speech in Tokyo, where he signalled that the ECB will need to use methods other than monetary policy to boost its economy.

"Confidence today relies equally upon the audacity of our immediate decisions and upon the soundness of our exit strategies," Reuters quoted him as saying.

If Mr Trichet is correct, those investing in countries such as Spain may find that the prospects for investment improve as the eurozone economy picks up.

Earlier this week Spanish investor portal Kyero.com reported that the El Mundo newspaper had suggested the market in the country is bottoming out.

The news provider had stated the "beginning of the end" of the worst of the crisis appeared to be at hand.

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