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SAO PAULO, Nov 9 (Reuters) - An agreement by the world's leading economies on ways to tackle the global financial crisis is encouraging, but there is no room for complacency, European Central Bank President Jean-Claude Trichet said on Sunday.
After Group of 20 meetings in Sao Paulo in Brazil, Trichet told Brazilian television Globo News TV that official action taken on the financial crisis was having an impact but more work was needed.
"There is a large deal of consensus and to the extent that the G20 represents an overwhelming proportion of global growth I think it is encouraging," he said in an interview broadcast in Jornal das Dez.
"But there is a lot of work to be done, and it is no time for complacency."
Financial officials from the G20, which includes developing powers such as China and Brazil as well as industrialised nations, agreed on ways to stimulate growth which will be discussed further at a G20 leaders' summit in Washington on Nov. 15.
Trichet said it was important to give emerging economies more say in international financial institutions.
On the role of public spending in boosting growth, he said some countries were well-placed for fiscal stimulus but others, in Europe and elsewhere, had not left sufficient slack in their budgets.
"They have already now deficits which are very substantial and for them the room for manoeuvring does not exist," he said.
The ECB cut interest rates by 50 basis points last week to 3.25 percent and Trichet repeated that a further cut in December was not excluded although the ECB would do whatever was needed to ensure price stability. (Reporting by Krista Hughes; Editing by Michael Watson)