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Interview with an ECB president
Wookster
Posts: 3,795 Forumite
I read this on the journey in today and frankly it is astonishing.
http://www.bbc.co.uk/news/business-15517557
Notable quotes include:
I asked him whether he regretted saying the euro had been "an anchor of stability during the financial crisis"' in December 2008. Not at all, he said. "It still is."
Outsiders, watching the interview, might also quibble with Mr Trichet's claim, that it was "entirely normal" for 17 of the richest countries in the world to be scrabbling around for ways to turn 440bn euros into one trillion euros - which do not actually involve spending any money.
I thought Mervyn King was bad, but this takes matters to a different and shocking level.
http://www.bbc.co.uk/news/business-15517557
Notable quotes include:
I asked him whether he regretted saying the euro had been "an anchor of stability during the financial crisis"' in December 2008. Not at all, he said. "It still is."
Outsiders, watching the interview, might also quibble with Mr Trichet's claim, that it was "entirely normal" for 17 of the richest countries in the world to be scrabbling around for ways to turn 440bn euros into one trillion euros - which do not actually involve spending any money.
I thought Mervyn King was bad, but this takes matters to a different and shocking level.
0
Comments
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It's amazing considering the huge problems being faced by Europe and the World, that everyone seems to think that they have no responsibility for it, and that everything at their end was fine.'In nature, there are neither rewards nor punishments - there are Consequences.'0
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This interview reminds me a lot of Comical Ali during the Iraq war, full of positivity despite all of the evidence to the contrary.
Unfortunately there is nothing comical about the Euro and the role of the ECB."When the people fear the government there is tyranny, when the government fears the people there is liberty." - Thomas Jefferson0 -
With politicians we have to assume the avoidance of responsibility is the objective, but I've got to admire their unusual competence in achieving it.It's amazing considering the huge problems being faced by Europe and the World, that everyone seems to think that they have no responsibility for it, and that everything at their end was fine."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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