Jean-Claude Trichet is president of the European Central Bank. Mr Trichet spoke to Sir Howard Davies for the BBC Radio 4 programme The Greenspan Years (to be broadcast at 2000 GMT on Monday, 2 January, 2006).
ON GREENSPAN HIMSELF
I think that he has been extremely influential, and he has also been put in a number of situations where he had to cope with shocks; very, very numerous, because he stayed there more than 18 years, which is extraordinarily striking. He found out in all circumstances appropriate responses.
But he was certainly very creative, and very imaginative, and he has again, played a very important role in permitting the improvement of credibility of central banks in general, and long-term credibility I would say.
ON GREENSPAN'S INSIGHT
He was the first, by the way, to analyse the fact that the US economy was registering - since '95, '96 - an explosion of labour productivity progress, which was really a very, very visionary understanding of the situation.