Re-thinking Ireland's strategic relationship with Britain | 50 comments (50 topical, editorial, 0 hidden)

Wait, Draghi takes part in the EcoFin?

So Central Bank Independence does not preclude collaboration with the fiscal authorities?

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa

by Migeru (migeru at eurotrib dot com) on Mon Jul 16th, 2012 at 12:13:06 PM EST
[ Parent ]

Re: Hmmmm (4.00 / 2)

I thought Trichet and Draghi spent their lives telling the fiscal authorities what to do whilst doing nothing themselves about bank regulation, supervision and resolution which are arguably closer to a normal central bank's remit.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Jul 16th, 2012 at 12:19:28 PM EST
[ Parent ]

Re: Hmmmm (4.00 / 3)

But it has become clear that the ECB was only in charge of monetary policy and price stability, and even now they still don't want the job of bank supervisor.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa

by Migeru (migeru at eurotrib dot com) on Mon Jul 16th, 2012 at 12:21:55 PM EST
[ Parent ]

Re: Hmmmm (4.00 / 3)

In other words, the ECB wants the easy job of controlling inflation, and doesn't want to have to do any real work in the real world of banking supervision and economic management. That is a big problem for the Eurozone. But what galls me is that the ECB then has the hubris to lecture elected European Governments on what they should be doing as regards fixing problems best managed within by a functioning central bank.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Jul 16th, 2012 at 12:57:39 PM EST
[ Parent ]

Re-thinking Ireland's strategic relationship with Britain | 50 comments (50 topical, 0 editorial, 0 hidden)

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