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Should the Seuro-zones SEIB and SECB have oversight from a South European Parliament?

Under a Neuro/Seuro scenario, both would be run under the enhanced cooperation rules, rather than under Parliament/Commission authority.

Besides, you can always declaw a federal central bank it by making it issue Seuro only to cover internal balance of payments imbalances within the Seurozone and undercut speculative attacks between Seurozone member currencies.

Not that I see any pressing economic need for a Seuro at all. I can see the political point, but frankly I am not convinced that it is worth the trouble of setting up an enhanced cooperation framework just to give the middle finger to the BundesBank.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Sep 3rd, 2011 at 11:45:16 AM EST
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