Deep seated as my criticisms are of the dithering and lack of imagination and vision over at the ECB, the situation would not be improved by giving national governments more say. I have only one response then to M de Vil-lepin: hands off.
“Mr de Villepin suggests the 12 finance ministers of the eurozone should open a ?dialogue? with the European Central Bank about how to deal with low growth and high unemployment by defining a common economic government. Although he stresses the eurogroup must respect the ECB’s independence, his remarks are bound to be seen as a further sign of European politicians’ desire to have a greater say over monetary policy.“