Business Irish

Wednesday 27 August 2014

Former ECB head Jean Claude Trichet: ‘I won’t be appearing in front of banking inquiry'

Published 07/05/2014 | 08:12

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Former European Central Bank President Trichet attends a session at the World Economic Forum (WEF) in Davos
Former European Central Bank President Trichet attends a session at the World Economic Forum (WEF) in Davos

The former head of the European Central Bank Jean-Claude Trichet will not be appearing in front of the Oireachtas Banking Inquiry

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Trichet was the ECB president during Ireland’s banking collapse and said he was against burning Anglo Bank bondholders.

In an interview with Newstalk this morning, he said the 2008 bank guarantee was a decision taken ‘without consultation’ by the Irish Government and he was 'told afterwards'.

Trichet said his absence from the banking inquiry is down to the ECB’s rules.

“If the rule was changed, I would apply the new rule,” he said. “All decisions are taken collectively by all members of the governing council and the responsibility of explaining decisions are in the hands of the governments.”

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