l more credible than Jon Huntsman, or Barack Obama. EFTA00586786 lo NYT An Impeccable Disaster Paul Krugman September 11, 2011 -- On Thursday Jean-Claude Trichet, the president of the European Central Bank or E.C.B. — Europe's equivalent to Ben Bernanke — lost his sang-froid. In response to a question about

m stimulus to austerity, they promised big gains in return for the pain. "The idea that austerity measures could trigger stagnation is incorrect," Jean-Claude Trichet, then the president of the European Central Bank, declared in June 2010. Instead, he insisted, fiscal discipline would inspire confidence, and this

ailed to predict the crisis and seemed incapable of explaining what was happening to the economy in a convincing manner,” the European Central Banker Jean-Claude Trichet lamented in the aftermath of 2008s cascading, complex financial crises, when markets and officials discovered that the problem with their system was