http://fullcomment.nationalpost.com/2011/11/11/lawrence-solomon-the-eu-who-needs-it/ new link http://www.channel4.com/news/abandoning-a-currency-causes-chaos-and-confusion Chancellor Angela Merkel’s Christian Democratic Union will debate a motion at its annual congress next week that seeks to bring Germany’s influence at the European Central Bank into line with its economic dominance in the euro area, lawmakers said. Furious Cameron on a euro mission to Berlin
http://tinyurl.com/c5sqajs
http://fullcomment.nationalpost.com/2011/11/11/lawrence-solomon-the-eu-who-needs-it/
The motion, tabled by CDU lawmaker Juergen Hardt, aims to replace the Frankfurt-based ECB’s one-country-one-vote system for decisions on monetary policy with a weighted arrangement that would see Germany, Europe’s largest economy, command by far the largest share of votes on the 23-member Governing Council.
“The asymmetry of voting rights at the bank must be adjusted to reflect the economic weighting of its members on the council,” Hardt, who sits on the German parliament’s European affairs committee, said in a telephone interview. “The culture of independence represented by the Bundesbank is clearly at ransom in the current arrangement.”
http://www.bloomberg.com/news/2011-11-10/merkel-s-party-to-debate-boosting-german-voting-weight-at-ecb.html
Saturday 12 November 2011
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