ECB beckons Trichet as Credit Lyonnais trial ends

Trichet -- currently governor of the Bank of France -- is now expected to take the reins as president of the European Central Bank (ECB) when present incumbent Wim Duisenberg retires on July 9. Speculation had been brewing that the French prosecution would appeal against the verdict and delay Trichet’s ordainment further, but that prospect now appears unlikely.

The euro remained relatively stable following the verdict, and analysts said this highlighted the new-found stability of the ECB.