Finance Weblog: Trichet’s interview and the photos of Madrid´s suburbs

Today’s FT had a full page article on Trichet. It is a profile of the Central Banker together with some bits of an interview that can be fully read in the web version of the newspaper.

He deals with a bunch of relevant things. The monetary pillar of the ECB is discussed and the recent volatility of the M3 monetary measure is analyzed. There is a brief discussion on the pressure and criticism he has suffered from politicians. Especially when he decided on his first interest rate hike. The entrance of the UK is analyzed and Trichet praises very much the entry of the UK into EMU.
Other relevant concerns for Trichet are: a) the overheating housing market; b) current account imbalances; and b) the need of regulation for the hedge fund sector.

The article is spotted with three photographs. One is of himself looking pretty happy in his office at the ECB. The second are just some figures comparing US and Europe’s productivity. And the third is a photograph of an olive tree with construction works in the back. It says: “Construction near Madrid: housing markets are a concern for the ECB”.
So from the photographs we can probably provide a better summary of the interview: the ECB is worried about productivity growth and housing prices. There are times when you do not want to see the photograph of your city on the international press. This is one.

Full interview:
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