BRUSSELS (Bloomberg) — European Central Bank president Jean-Claude Trichet said promises made last week by Greece and the 26 other European Union governments on finances and the stability of the euro area are "enough".

"Everyone needs to respect their commitments," Trichet said today on LCI television. "For me, that is enough.

"Greece must correct what it's done in the past and was incompatible with price stability." The country's spending policies "were intolerable and shouldn't have been tolerated", he added.

Asked about high-deficit countries such as Spain, Trichet said all euro-area countries need to meet their budget plans.

"We have a particular Greek problem, but the other countries have their programmes and they must be implemented," he said.