Jean – Claude Trichet

Jean-Claude Trichet was the Governor of the Bank of France from 1993 to 2003 and the President of the European Central Bank from 2003 to 2011. He is also a member of the Board of Directors of the Bank for International Settlements. In 2008, Trichet ranked fifth on Newsweek’s list of the most powerful people in the world along with economic triumvirs Ben Bernanke (CB of US Federal Reserve) and Masaaki Shirakawa (CB of Bank of Japan).

Within the European Central Bank, Trichet strongly resisted any contemplation of Greece defaulting on its debt. It was only in October 2011, with the end of his term imminent, that consensus was reached to allow a 50% cut in the value of Greek bonds.