Wednesday, July 27, 2011

Mazi's Link O' the Day

Once again, the point is made that the EU has no central fiscal authority. The ECB is their Fed, but who's the Treasury? Well... It's been the ECB, too:

http://blogs.ft.com/economistsforum/2011/07/squaring-ecb-independence-with-fiscal-decentralisation/#axzz1TJVfd9b4

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