Jean-Claude Trichet facts for kids
Quick facts for kids
Jean-Claude Trichet
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Trichet in 2011
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| President of the European Central Bank | |
| In office 1 November 2003 – 31 October 2011 |
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| Vice President | Lucas Papademos Vítor Constâncio |
| Preceded by | Wim Duisenberg |
| Succeeded by | Mario Draghi |
| Governor of the Bank of France | |
| In office 19 September 1993 – 1 November 2003 |
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| Preceded by | Jacques de Larosière |
| Succeeded by | Christian Noyer |
| Personal details | |
| Born |
Jean-Claude Trichet
20 December 1942 Lyon, France |
| Spouse |
Aline Rybalka
(m. 1970) |
| Children | 2 |
| Education | École nationale supérieure des mines de Nancy University of Paris Sciences Po École nationale d'administration |
| Signature |  |
Jean-Claude Trichet (born 20 December 1942) is a French economist. He was the President of the European Central Bank from 2004 to 2011. Before that, he was the Governor of the Bank of France from 1993 to 2004.
After leaving the European Central Bank, Trichet gave many speeches in France. He also joined the board of directors for the Bank for International Settlements. He was asked to join Bruegel, a group that gives advice on economic policy. In 2008, Newsweek magazine listed him as one of the world's most powerful people.
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Early Life and Education
Jean-Claude Trichet was born in 1942 in Lyon, France. His father was a professor who taught Greek and Latin.
Trichet went to the École des Mines de Nancy and finished in 1964. He later earned a master's degree in economics from the University of Paris. He also studied at Sciences Po and the École nationale d'administration (ENA). These are important French schools for political science and government.
Career in Public Service
From 1987, Trichet led the Trésor public, which is like the French Treasury. In this role, he also led the Paris Club. This group helps countries deal with their debts. He helped many countries in Latin America, Africa, and the Middle East with their money problems.
Trichet also became a member of the Group of Thirty, a financial advisory group. Soon after starting at the Treasury, he helped make the French currency, the franc, very strong. This was to prepare France for joining a currency union with Germany. In 1993, he helped make the Bank of France independent. This meant it could set its own interest rates.
In 1993, Trichet became the governor of the Banque de France. Many people saw him as one of the main people who helped create the European monetary union. This union brought together many European countries under one currency, the euro.
By 1997, the French Prime Minister and President suggested Trichet to lead the European Central Bank. However, most countries in the Eurozone preferred Wim Duisenberg. They reached a deal: Duisenberg would step down halfway through his eight-year term. This allowed Trichet to take over on 1 November 2003.
During his time as president, Trichet guided the European Central Bank through the European debt crisis. He helped create programs to stop the crisis in government bond markets. In 2011, a board member named Jürgen Stark resigned. Many believed this was because he disagreed with Trichet's policies.
Career in the Private Sector
After leaving public service, Jean-Claude Trichet joined the board of the European Aeronautic Defence and Space Company (EADS) in 2012. He represented the French state's holding company, SOGEADE.
In 2012, Trichet also became the chairman of the European branch of the Trilateral Commission. This is a group that discusses global issues.
From 2017 to 2018, Trichet was part of a special group for the G20. This group advised on how to manage global finances. In 2021, the G20 asked him to join another panel. This panel focused on how to pay for global efforts to prepare for and respond to pandemics.
Other Activities
Jean-Claude Trichet has been involved with many important groups:
- European Central Bank, Chair of the Ethics Committee (2016–2019)
- European Systemic Risk Board (ESRB), Chair (2010–2011)
- PIMCO, Member of the Global Advisory Board (since 2015)
- Bruegel, Chairman of the Board (since 2012)
- Bilderberg Group, Member of the Steering Committee
Political Views
During the euro crisis, Trichet openly disagreed with President Nicolas Sarkozy and Chancellor Angela Merkel. They had agreed in 2010 that private investors should help pay for bailouts. This plan was never put into action.
In 2011, Trichet suggested creating a central finance ministry. This new ministry would oversee spending by countries that use the euro.
On 5 August 2011, Trichet and Mario Draghi wrote a letter to the Italian government. They urged Italy to make certain economic changes, which Italy soon did.
In 2015, Trichet supported President François Hollande's choice for the new head of the central bank. He joined two other former governors of the Bank of France in this support.
In 2019, Trichet wrote an article for the Financial Times. He disagreed with some of his former colleagues at the European Central Bank. They had criticized the money policies of his successor, Mario Draghi. Trichet called their criticism "misguided."
Personal Life
When he was 22, Jean-Claude Trichet married Aline Rybalka in 1970. She was a diplomat and translator whose parents came to France from Ukraine.
They have two sons. Their older son, Pierre-Alexis Trichet (born 1971), works in marketing strategy for a telecommunications company. Their younger son, Jean-Nicolas Trichet (born 1974), is a musician and producer.
Honours and Awards
Jean-Claude Trichet has received many awards and honours from different countries:
France: Commander of the Legion of Honour- France: Officer of the National Order of Merit
Germany: Grand Cross 1st Class of the Order of Merit of the Federal Republic of Germany (2011)
Hesse: Knight of the Hessian Order of Merit (2011)
Luxembourg: Vision for Europe Award, for helping European countries work together (2008)
Netherlands: Knight Grand Cross of the Order of Orange-Nassau (2011)
Poland: Grand Cross with Star of the Order of Merit of the Republic of Poland (2011)
Portugal: Grand Cross of the Order of Prince Henry (2010)
Bulgaria: Honorary Doctor of the University of National and World Economy in Sofia (2009)
Japan: Grand Cordon of the Order of the Rising Sun (2018)
See also
In Spanish: Jean-Claude Trichet para niños
