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Profile: Jean-Claude Trichet
(CNN) -- Bank of France Governor Jean-Claude Trichet becomes the new president of the European Central Bank this weekend, taking over from Dutch banker Wim Duisenberg. "He has a very good reputation, a long history of experience at the highest level in French bureaucracy," said Joanne Collins, an economist at Daiwa Europe. "He's been Secretary to the Treasury, he's been Governor of the Bank of France, been involved in the ECB from the onset, and also part of the team that oversaw the launch of the euro." The euro is likely to be the major focus for Trichet. He says he wants to uphold Duisenberg's legacy of a credible currency and admits to being obsessed with stability. And when it comes to articulating ECB policy, Trichet is expected to overshadow his predecessor. "Firstly communication is an obvious priority. Wim Duisenberg has improved his style a bit but he was still very prone to making some rather embarrassing gaffes. I think Trichet with his experience will probably reduce the number of blunders the ECB makes in that respect," says Philip Shaw, chief economist at Investec. But Trichet's rise to the ECB's top job has not come without obstacles. The Frenchman had to be cleared of criminal charges over a banking scandal at Credit Lyonnais before being confirmed as Duisenberg's successor. He was placed under investigation in April 2000 for allegedly diffusing false information to markets and publishing misleading accounting records for the bank in the early 1990's. But earlier this year, he was fully acquitted of all charges. Trichet takes over as the ECB's president on November 1. -- CNN's Paula Hancocks contributed to this report
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