A call for reform of the ECB
Genevieve Signoret
12 nov 2011
Again we have Edward Harrison to thank for pointing to this video of Professor Markus Kerber on the need for ECB reform. This is a great sample of German thinking on the ECB. Key quotes:
Within the central bank, Germany has as much voting power as [unintelligible], as Cyrpus, as Malta, which is ridiculous.
[The ECB] has to be reformed, and it will be reformed. Otherwise Germany will leave the European monetary union.
[Stark] stepped down, and everyone understood: this is no longer the Bundesbank.
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