Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
"makes most people here willing to tolerate antics that would not be tolerated from less valuable contributors."

Quod licet jovi, non licet bovi? Perhaps I am just to egalitarian for such maxims.

"Which is that the ECB is handling this entire crisis in precisely the same way the BuBa handled the 1993 crisis."

The ECB is doing what it is doing because its member countries did pack it full of right wing ideologues.
A fact you tend to ignore.

 "The law is a statement of intent, not an objective reality.""

No, most laws, especially the laws that create institutions do create an objective reality.

 "The European Council can propose a treaty change that repeals the law of gravity, it can pass referenda in every single member state and be adopted with the force of national constitution everywhere on the subcontinent...

 ... but rocks still fall down when you drop them, and the BuBa still has an influence that is out of all proportion to the value of its contributions."

You really are the last believer - and it seems to be theology with you - in the myth of the bundesbank. The supposed influence of the Bundesbank is a natural law now? Oh, you are not a orthodox believer, but a heretic: The Bundesbank is in your mythology not an angelic, but rather a satanic power. But in the kingdom, the power and the glory of the Bundesbank you still believe. EWven the people at the Bundesbank temselves are probably not that fervent believers.

A question: If the Bundesbank is all powerful, why did Weber resign? He was frustrated not getting his way at the ECB after all and did give the chance to lead the ECB away. Is he clinically insane? Or did he indeed did not get his way time after time at the ECB, leading to frustration?

by IM on Thu Sep 8th, 2011 at 08:00:41 AM EST
[ Parent ]

Others have rated this comment as follows:


Top Diaries

Occasional Series