Living down easy street

Europe's Jean-Claude Trichet, Japan's Toshihiko Fukui, the UK's Mervyn King and Alan Greenspan of the US have all been living on Easy Street, albeit for different reasons. Trichet, for example, has not had to steer up or down since taking charge of the European Central Bank in November 2003. As an economic coma threatens Europe even with the benchmark rate at a six-decade low of 2%, Trichet may have to cut at a time when his instincts say it is time to raise borrowing costs. He would probably be cutting rates already if he only had to worry about Germany and Italy, which account for h...