Trichet on International Financial Architecture

- Central Banking staff
- 21 Sep 2004

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In a speech on the transformation of the International Financial Architecture given on 20 September Jean-Claude Trichet of the ECB said we have already done a lot of research in the understanding of this new global financial system. We understand why credibility is so important, particularly credibility of authorities like central banks and we understand better the phenomenon of contagion, of herd behaviour in a globalised environment.

Trichet said in the Arthur Burns Memorial Lecture on "The

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