Path to ECB presidency opens up for Trichet

Trichet, along with eight other bankers and finance officials, is on trial over allegedly concealing massive losses at then state-owned Credit Lyonnais using taxpayers’ money in 1992--1993. At that time, Trichet -- still the front-runner for the ECB top job -- was head of the French Treasury.

Any delay in prosecuting the case could have ruined Trichet’s chances for the job as he would have been unable to take over from current ECB president Wim Duisenberg when he retires on July 9. Now, the