The president of the European Central Bank (ECB), Jean-Claude Trichet, pleads for the founding of an Euro Zone budget federation, to prevent disturbances like the ones produced by the Greek crisis, Money.ro informs. “We are a monetary federation. It is necessary, now, to set up the equivalent of a budget federation, as a means of control and of monitoring the implementation of fiscal policies,” he said, in an interview to Le Monde. Trichet warns, however, that European states should learn the lesson to be derived from recent evolutions. “The watch of budget policies, the evolution of performances by economies in the Euro Zone and structural reforms are in need of radical change”. The president of ECB thinks that the austerity plans applied by more and more European governments are necessary, and draws a comparison between a state budget and a household budget.