Jean-Claude Trichet

Jean-Claude Trichet is the president of the European Central Bank. He was born in 1942 in Lyon, France. He graduated from the Ecole nationale supérieure des Mines de Nancy (in civil mining engineering) in 1964, from the Université de Paris (in economics) in 1966, the Institut d'études politiques de Paris in 1966, and the École nationale d'administration (ENA) in 1971. Immediately after finishing the ENA, he was appointed deputy of finance. Later, he was assigned to posts in the General Inspectorate of Finance (in 1974) and the Treasury Department (in 1975). Thereafter, he was appointed the secretary general of the Interministerial Committee for Improving Industrial Structures (CIASI) (in 1976), and became an adviser to the minister for economic affairs (in 1978) as well as an adviser to the President of the Republic, Giscard d'Estaing, in matters of industry, energy, and research (also in 1978).

In 1981, he became head of the Development Aid Office and deputy director of bilateral affairs in the Treasury Department. In 1985, he became head of international affairs in the Treasury Department. In 1986, he became director of the Private Office of the Minister for Economic Affairs, Finance, and Privatization (who was Edouard Balladur at that time). In 1987, he was appointed director of the Treasury Department, and held this position under various prime ministers until 1993. In this position, he reformed the Banque de France, the French central bank, and helped set up the European Economic and Monetary Union, and in doing both gained an international reputation as an advocate of strict monetary policy. As president of the Paris Club from 1985 to 1993, he became internationally recognized for his role in the management and cancellation of debts incurred by third-world countries.

He was appointed governor of the Banque de France in 1993, chairman of the Monetary Policy Council of the Banque de France in 1994, and alternate governor of the International Monetary Fund in 1995 and served in this later capacity until 2003. In 1999, he was appointed for a second term as governor of the Banque de France. He made the bank more transparent and defended its independence under various administrations. Because of his very committed participation in setting up the European monetary union, France suggested as early as 1997 that he should be the president of the future European Central Bank, and on October 29, 2003, he was officially appointed the successor of Wim Duisenberg.

He has been awarded numerous honors, including the Commandeur de l'Ordre national de la Légion d'honneur, the Grand Cross 1st Class of the Order of Merit of the Federal Republic of Germany, and the Commander or Grand Officer of the National Orders of Merit of Argentina, Austria, Belgium, Brazil, Ecuador, Germany, Ivory Coast, and Yugoslavia. The International Economy Magazine named him Policy Maker of the Year in 1991, the Financial Times named him Person of the Year in 2007, and The Banker named him Central Banker of the Year in 2008. He has been awarded numerous honorary doctorates.  

►Selected Literature (ECONIS Select - ZBW)

Global Economy Prize 2011 - Victor Chu - Lawrence H. Summers