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Reforming the ECB to be actually useful requires rewriting at least the unwritten part of the German constitution, as well as both the written and unwritten parts of the fundamental treaties of the Union.

The ECB certainly must be brought to heel and eventually fully subjected to intrusive democratic controls. But by the time that happens, Greece and Spain and probably Italy will have already played out to their conclusion.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Feb 13th, 2013 at 02:14:48 PM EST
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