This might be because in banking and monetary-policy circles, Mr Trichet's reputation remains high.
In many countries short-term interest rates are near zero and in a banking crisis monetary policy works less well.
The original cause of the Icelandic crisis was a combination of inappropriate monetary policy and an outsized banking system.
Now, attention will turn to Federal Reserve chairman Alan Greenspan's keenly awaited testimony on monetary policy to the Senate Banking Committee on Thursday at 1400 GMT.
Since December 2008, the U.S. has, in a sense, no longer had fractional reserve banking, because the monetary base has been greater than M1.
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Earlier this year Cyprus agreed a 10bn euro bailout with the EU and the International Monetary Fund (IMF) after its banking sector faced near collapse.
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U.S. retail sales data, industrial output in China and the euro area, the ongoing Spanish banking crisis and possible further monetary policy easing in Japan will all be overshadowed by the Greek elections, said Nomura Securities analysts in a 16 page report on Friday.
It directly reduces the size of the monetary base and the funds available to the banking system for lending.
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The Bank of Japan has relaxed its monetary policy, providing more cash to the banking sector in a bid to boost the flagging economy.
Also, monetary policy liberalization and increased competition in the banking system will be key to improving credit and capital access for dynamic private companies.
Those reserves bloat the monetary base (reserves plus currency outside the banking system), but they have not been used for money-creating bank lending and investing.
The most common measure of the monetary base is bank reserves plus currency outside the banking system.
Since then, two of those countries, Latvia and Cyprus, have needed financial aid from the EU and International Monetary Fund, while Slovenia is restructuring its ailing banking system to avoid requesting a bailout.
It was here that the unelected, largely unknown and unaccountable nabobs of central banking actually began to fix the global monetary system in a series of ad hoc and highly irregular deals with each other.
Germany's low inflation rate, its limited room to ease monetary or fiscal policy and the problems in its banking system look horribly like the early symptoms seen in Japan in the mid-1990s before it sank into deflation.
The implicit assumption in monetary circles is that there is no alternative to central banking and fiat money.
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They believe in fact the US economy was so busted by the banking crisis of 2008 that only a further monetary and fiscal stimulus will revive it.
Federal Reserve Chairman Ben Bernanke will deliver his monetary policy report to Congress, first to the Senate Banking Committee on Tuesday and then to the House Financial Services Committee on Wednesday.
Mr. Chidambaram also said that he expects the central bank to take steps to address the shortage of liquidity in the banking system when it meets to review its monetary policy Tuesday.
The three key elements of this policy remained the adoption of a floating exchange rate system, the anchoring of monetary policy to the inflation target and the acceleration of banking sector reforms, he said.
While Japan's banking system remains crippled, faster growth in the monetary base does not boost bank lending.
Later today, Federal Reserve Chairman Ben Bernanke will be testifying before the Senate Banking Committee as part of the semi-annual monetary policy report.
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If you add those bank reserves to cash outside the banking system, you get a measure usually called the monetary base.
HSBC, the biggest banking group in the territory, whose main regulator is the monetary authority itself.
Spain, whose banking crisis began in 1977, was dragged back by global monetary tightening in the early 1980s.
Additionally, the Fed failed to provide stability to our monetary system, resulting in the collapse of the U.S. banking system.
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Of course, all the people in banking and finance, not to mention the overlords of the monetary system at the central banks, would absolutely hate it.
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The asset expansion has produced a sharp rise in bank reserves, and hence the monetary base, which is composed of bank reserves and currency outside the banking system.
It appears Cypriot officials are considering taxing savings accounts in their domestic banks as a part of an overall banking bailout plan with the European Central Bank and the International Monetary Fund.
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With murmurs at the FOMC growing louder every time the Fed Chairman and his acolytes express support for ultra-loose monetary policy and continued quantitative easing, Ben Bernanke faced the Senate Banking Committee where he once again defended his tenure as central bank chief.
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