In the story here, Trichet portrays himself as seeing everything coming in August 2007 and acting accordingly through the end of his tenure as head of the ECB in 2011.
Unfortunately for Trichet, who saw nothing coming, the record of his interest rate hikes in the summer of 2008 (!) in the teeth of the crisis and repeated in the spring of 2011 cannot be erased!
Of course, he doesn't mention those.
Mario Draghi immediately reversed Trichet's course, nine days after assuming the leadership of the ECB.
