Former head of the ECB Jean-Claude Trichet speaks in Ireland

  • ECB's systematic warnings were ignored before crisis
  • National governments contributed to cost of crisis
  • Policymakers benign neglect preceded crisis
  • There were no clear burden sharing rules
  • Senior burden sharing was too risky in 2010
  • Eurozone architecture has been reinforced
  • Ireland had a toxic dynamic before the crisis

I guess the ex-ECB head is bemoaning the lack of strong vigilance before the crisis. One for you old hands there ;-)