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... the ECB is already so far down the road of telling governments what to do and what not to do in the fiscal and structural reform domains, that one is hardly surprised by yet another lecture on budgetary policy from the Eurotower.  Traditionally, continental European central bankers speak very little about monetary policy in public, and are often unwilling to engage in public debate or answer questions about their monetary duties, but carry on endlessly about budgetary and structural reform matters.  It's always easier to speak about things you have no responsibility for, that are not part of your mandate and about which you probably don't know very much.
Weidmann belongs to a proud tradition of Continental Central Banking.

To err is of course human. But to mess things up spectacularly, we need an elite — Yanis Varoufakis
by Carrie (migeru at eurotrib dot com) on Wed Nov 23rd, 2011 at 12:30:31 PM EST
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