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The critics are beginning to dissect, and in some cases pan, the 8 years of Jean-Claude Trichet's leadership at the ECB...departing just as his beloved euro is under extreme pressure.
Trichet, 68, retires in October.
NYT: "...just as Alan Greenspan went from being lionized to lacerated after his years at the Federal Reserve were quickly followed by the global financial collapse, these missteps threaten to tarnish Trichet’s legacy.
Trichet may be remembered “as a charming and talented leader who failed to grasp the gravity of the crisis,” said economist Charles Wyplosz."
Some economists contend that Trichet chose the wrong fight...against inflation by raising interest rates even in the face of new austerity measures...instead of promoting growth.
