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"Central bank independence, interpreted fundamentalistically as a prohibition of monetary financing of fiscal policy, is part of the German basic law. "

Avtually no. Part of the european treaties, yes. But the independence of the bundesbank rested on a ordinary law.

>The entire German political establishment appears to agree that the ECB is configured as it should be<

A good part of said establishment now actually thinks that the ECB is misconfigured, Germany only having as much of a vote as the smaller states.

by IM on Thu Feb 21st, 2013 at 03:38:55 PM EST
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