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Full interview with ex-ECB chief Trichet on the French election 'earthquake'

Jean-Claude Trichet, former president of the European Central Bank, shared his views on the French election Monday on CNBC's "Squawk on the Street."

On the state of French politics: "I would say all taken into account, this is an earthquake in French politics," Trichet said. "We don't know yet how the political forces will re-establish the appropriate equilibrium, in particular, the two governmental parties."

On youth unemployment in France: "It seems to me that the success of the new government, the new president, will rely upon eliminating this youth unemployment, which is an abominable disgrace," he said. "If it is not done then we will see the populism, protectionism, you name it, continuing to grow."

French presidential candidates Emmanuel Macron and Marine Le Pen will compete in the final round of the election on May 7.

Trichet was the president of the European Central Bank from 2003 to 2011.

He also discusses:

  • Central banks.
  • Global monetary policy.
  • The euro.

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.