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Not it isn't. It is a regional branch of the ECB. You are living in the past.

And what effing exchange rate poliy? There is no exchange rate in a currency union. And regarding the exchange rate of the euro, do you want to argue it is undervalued?

"As soon as that sort of talk started, the German government and the BuBa pitched a public hissy fit and threatened to pick up their marbles and go home."

The opinion of the german government - the position of the opposition is different, you should admit at least that - was rightly or wrongly shared by a lot of other countries. Regarding the Bundesbank, what are you talking about? How exactly can they pick up their marbles and go home? They are just a administrative sub-division of the ECB. They can't go home, there is no home anymore. They have exactly one division, that is one vote at the general council. Like estonia.

And, no , "concision" doesn't justify rampamt national stereotyping. Bofinger isn't Sinn and if you are unable or unwilling to admit even that, you shouldn't comment on german economic debates.

by IM on Sun Aug 14th, 2011 at 06:46:31 AM EST
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