The Cardiff files: Trichet’s fallacy

The Cardiff files: Trichet’s fallacy
Jean-Claude Trichet: ‘disastrous consequences for your country’

ECB hardline stance

‘There was one big fallacy,” Kevin Cardiff starkly concluded after listening to the response of former European Central Bank governor Jean-Claude Trichet to questions from the banking inquiry.

He said it was an “important truth” that Trichet and the ECB gave “very large and very important support” to Irish banking, but this was not the full story.

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