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you can't vote the guys who name them out of office.

You can't? Why?

by IM on Sun Mar 17th, 2013 at 02:57:30 PM EST
[ Parent ]
Apparently, you can (?), as they seem to be the heads of the national central banks. But there is an extra level of resistance. In the pre-EZ time, the leadership of the national central banks changed whenever the mandate of someone on the board ran out. Now not only need the composition of the national central bank change, but the composition of the ECB governing council as well. This creates a more rigid system.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Sun Mar 17th, 2013 at 03:04:00 PM EST
[ Parent ]
Well, as long as the ECB senior people can be vetoed by Germany, and all German parties support "hard euro" policies, there will be little change in practice.

Wind power
by Jerome a Paris (etg@eurotrib.com) on Sun Mar 17th, 2013 at 03:13:00 PM EST
[ Parent ]
Situation may be slipping out of human control.  There comes a time, and I have no idea if it has arrived (and neither does anybody else,) when a system moves into a phase transition seeking a new state.  When and as that happens, human intervention is as likely to mess things up worse as to make it better.  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Sun Mar 17th, 2013 at 03:26:03 PM EST
[ Parent ]
"Well, as long as the ECB senior people can be vetoed by Germany,"

But they constitute only small part of the governing council. The national governments can appoint whom they want to head their national banks.

by IM on Sun Mar 17th, 2013 at 03:40:03 PM EST
[ Parent ]

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