Jean-Claude Trichet, former ECB president, explains why Europe's financial crisis is a crisis of advanced economies as well, with CNBC's Michelle Caruso-Cabrera.
The euro zone’s debt crisis is just the center of an “adjustment” which is affecting all advanced economies, former European Central Bank (ECB) President Jean-Claude Trichet told CNBC.
Ten days after becoming Irish finance minister last March, Michael Noonan spoke with Jean-Claude Trichet, then the chief at the European Central Bank, and told him what his Fine Gael party had been telling voters for weeks: the new government intended to force losses on holders of senior Irish bank debt, the Financial Times reports.
Market watchers, journalists and self-declared ECB experts of all ilk have fostered the long-cherished (and equally long misguided) view that ECB council members walk into the meetings waving the flag of their respective countries. They don´t.
During Europe's financial crisis the European Central Bank has been "an anchor of stability and confidence," former president Jean-Claude Trichet said.
Following the daily swings of the euro zone debt crisis, it can be difficult to focus on the long-term, bigger picture.
The markets are making it clear they think Italy will be better off financially if the country’s Prime Minister, Silvio Berlusconi, steps down. There’s a reason for that.
Stubbornly high euro zone inflation data on Monday reinforced money market bets that the European Central Bank will wait until December to cut interest rates. That sentiment was echoed by Hedgeye Risk Management CEO Keith McCullough.
A month-long rally for stocks and a European Union deal on its debt crisis have lifted investors' mood, but at least one economist is amazed at the reaction to Europe’s latest attempt to solve its sovereign debt woes.
"We said from the very beginning that is was something which was potentially very important and that one should not underestimate the gravity of the situation... we were not pleasing a lot of interlocutors including the governments that had a tendency to say 'no it's not that important, it's not a big deal' and so forth and I would say that unfortunately experience has proved that our diagnosis was right," Jean Claude Trichet, outgoing head of the European Central Bank told CNBC in an interview.
Too many European Union leaders did not understand the gravity of the Greek debt situation following years of failure to adhere to rules on borrowing, the outgoing boss of the European Central Bank told CNBC.
The euro is a credible currency, and the euro zone as a whole has better economic fundamentals than the U.S. and Japan, Jean-Claude Trichet, the outgoing European Central Bank President, told TVN-CNBC in an interview Friday.
The finance chiefs of the world's leading economies opened the door Saturday for the International Monetary Fund to play a bigger role in fighting the eurozone's escalating debt troubles.
Discord over the euro zone crisis, currencies and global economic governance threatens to overshadow the Group of 20 finance ministers meeting in Paris on Friday and Saturday, the FT reports.
Should we feel confident that the crisis will soon be over? No. At least, nobody now sees the euro zone crisis as a little local difficulty. It has become the epicenter of an aftershock of the global financial crisis that could prove even more destructive than the initial earthquake, writes Martin Wolf in the FT.
European authorities plan to set a higher than expected capital threshold for the region’s banks and give them six to nine months to achieve that level or face government recapitalisations under the auspices of the eurozone’s 440 billion euro rescue fund, senior regulators said. The FT reports.
British data confuses, Trichet talks tough, and Dr. Doom is gloomy again - it's time for your FX Fix.
The crisis plaguing the euro zone has reached a "systemic dimension", outgoing European Central Bank President Jean Claude Trichet said on Tuesday, warning that the risk of economic shocks spreading further across the financial sector has increased.
Jean-Claude Trichet defended his run as European Central Bank president in an interview with CNBC on Thursday, saying the bank had delivered its key objective of price stability and that the euro was here to stay.
ECB chief Jean-Claude Trichet talks to CNBC about what needs to be done in Europe and his legacy with the European Central Bank.