Kellogg Distinguished Lecture Series: Jean-Claude Trichet

Date Added: Apr 2010
Format: HTML

European Central Bank President Jean-Claude Trichet said learning from the past and being constantly alert can help central bank officials take quick action to provide economic stability to stop or lessen the impact of a financial crisis. Trichet said that major financial crises share commonalities. A crisis is typically associated with a sense of "Euphoria and complacency" in financial markets, starting with some sort of radical change to the economy - in the form of technological advances or the opening of new markets - causing the financial sector to change to take advantage of these new opportunities.