Trichet groupie thread


I have to say that so far I like this guy, he takes shit from no man and does’nt apologise for it. He has his mandate and is sticking to it and he does not seem to suffer fools gladly in that he has not been swayed from the path by voices from France, Italy or Spain. :angry:

The fed must hate this guy…

Go Trichet! you look like death warmed up but you are doing a fabulous job!

When the deal for his appointment was stitched up a number of years ago I was openly skepitcal about him. The French government secured (with complicity from Germany) an agreement that Wim Duisenberg (the first President of the ECB) would stand down after only serving half his term in favour of Trichet.

I fully expected this was the politicisation of the ECB from the outset and a measure of the influence the French government intended to wield.

I must say I have been pleasantly surprised by Trichet and happy to have been proven wrong.

Trichet rocks. One of the only people in a position of power in the world today that actually has a clue what he’s doing. He’s doing a brilliant job, long may it continue. Europe will be thanking him for the next 30 years if he gets the next 18 months right.

Even if he’s proved wrong in history and BenBer is proved right (not that I think this is a likely outcome, but it depends on who’s writing the history), I would still prefer Trichet at the helm. At the very least, you do not feel that speculators are being bailed out. He has been consistent to his word. He has set a clear target for eurozone monetary policy.

Germany got it right in writing an inflexible constitution for the ECB. Even if Trichet had have been policitically inclined, the institutional bias and the make-up of the ECB board would have pulled him in line. Europe doesn’t have the american deference to authority that gives the Chairmen such influence over the rest of the Fed board. Consensus is much more important on the continent, and consensus favours the built-in rules and culture - fixed at the outset as die zweite Bundesbank.

Can’t say how lucky we are to have this guy. He is an Iron man. It shows you the french stereo types are completely wrong.