Hildesheim in focus: financial talks with former ECB President Trichet!

Hildesheim in focus: financial talks with former ECB President Trichet!

On Monday, April 7, 2025, Jean-Claude Trichet, former President of the European Central Bank (ECB), will give an important lecture at the Hildesheim Financial, Economic and Monetary Talks. This event will take place at 6:15 p.m. in Lecture Hall 2 at the University of Hildesheim and is organized by history professor Michael Gehler, head of the Institute of History. Trichet will share his extensive experience and insights on the future of the European Union (EU), particularly in the context of current economic challenges.

Trichet, who was President of the ECB between 2003 and 2011 and played a key role in the introduction of the euro, brings a wealth of experience in business and politics. The focus of the lecture will be on the role of the ECB in the euro crisis, German-French cooperation and the influence of the Ukraine war on the security situation in Europe. Visitors to the event will have the opportunity to ask questions and contribute their own perspectives. The event will be held in English and will offer German translation through on-screen texts.

Background and current challenges

The Ukraine war and the associated economic turmoil are leading to an unprecedented supply shock in Europe, which is having a significant impact on the inflation environment. Trichet emphasized in an interview that the ECB has shown resilience in times of crisis and that the average inflation rate since the introduction of the euro has been close to the 2% target. Nevertheless, the ECB has raised interest rates seven times in recent years to counteract rising inflation. According to Trichet, it is crucial not to underestimate the severity of inflation, but to carefully analyze the situation in order to respond effectively.

In an earlier lecture, Christine Lagarde, the current President of the ECB, highlighted the causes of inflation, which result from, among other things, rising energy prices and supply chain bottlenecks. For the first time, inflation in the euro area reached double digits in October 2022, with Estonia even recording an increase of up to 25%. These developments highlight the urgent challenges the ECB faces in ensuring price stability.

The role of the ECB in the European financial system

The ECB was created with the aim of ensuring price stability in the eurozone and has dealt with several significant crises during Trichet's term in office, including the 2008 financial crisis. During this period, the number of member states in the eurozone increased from 12 to 20. Trichet expressed optimism about future developments and is convinced that the ECB will continue to play a central role in European integration until its 50th anniversary.

Currently, a survey shows that 79% of the population in the Eurozone have confidence in the ECB, which represents a notable change from initial skepticism. Trichet emphasizes that the definition of price stability, introduced by the ECB as the first central bank, has now been adopted by many other central banks and that it must continue to respond to the challenges arising from external shocks, such as the Ukraine war.

The Hildesheim event not only represents an exchange between experts, but also an opportunity to discuss the connection between history and the present and to deepen core topics from economics and politics. The series of talks takes place every semester and is seen as a continuation of the European talks that Michael Gehler has been organizing since 2007.

How uni-hildesheim.de reports, the dialogue with Trichet, combined with the latest developments in the Eurozone, will lead to an exciting and insightful evening.

Additionally illuminated tagesschau.de the challenges of the ECB in view of the current economic conditions and the robustness of the institution in times of crisis. In line with the views of Christine Lagarde ecb.europa.eu highlighted that clear monetary policy and an appropriate response to market changes are crucial to keeping inflation under control and increasing confidence in the European currency.