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The Fed: Gloom surrounding Europe is overdone, Trichet says in interview

Bloomberg

Jean-Claude Trichet, former president of the European Central Bank (ECB)

Jean-Claude Trichet has not lost hope. Surrounded by euro skepticism inside and outside the bloc, Trichet sees light at the end of the tunnel.

In an interview with MarketWatch, the president of the European Central Bank between 2003 and 2011 thinks all the gloom and doom is overdone. He thinks that the European economy is simply lagging a bit behind the U.S. because it had three financial crisis — rather than two.

“I am not saying that things are going well, they are not going well. But it seems to be the bulk of the global discussion of Europe is a bit too negative,” said Trichet, now chairperson of the board of Bruegel, the Brussels-based economic think tank.

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