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Can the Eurozone National Central Banks create fiat Euros by themselves? | 37 comments (37 topical, editorial, 0 hidden)
Re: Can the Eurozone NCBs create fiat Euros? (none / 0)
So the question is: if an ECB member NCB has a surplus of revenue over costs, does it still return the surplus to its national Eurozone government?

Yes. ECB profits flow to the NCBs, but not the other way around.

But the NCBs take marching orders from Frankfurt.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Dec 1st, 2010 at 04:16:38 PM EST
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Can the Eurozone National Central Banks create fiat Euros by themselves? | 37 comments (37 topical, 0 editorial, 0 hidden)
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