ECB chief Trichet now also to manage EU’s systemic financial risks

In Brussels for a European Parliament Hearing on Economic and Monetary Affairs, Jean Claude Trichet, head of both the ECB, and now the ESRB, said that the remit of the ESRB would have to scope to address ‘country specific’ risks, if they threaten the Eurozone as a whole. The European Systemic Risk Board, is responsible for macro-prudential financial oversight of the European Union’s financial system.