I guess that central bank lending rates are set (and money supply managed) by EU people in Brussels? How does that work? Seems like it might work fine as long as things are good, but if any of the major countries were disproportionately affected by a recession, there could be trouble. Were they at least smart enough to let the Bundesbank people take over the central banking, or did they let the French (or, God forbid, the Italians) do it?
I guess that central bank lending rates are set (and money supply managed) by EU people in Brussels? How does that work? Essentially, it's all from HQ in Brussels, but that doesn't mean it's a all the Belgians. It's mostly French an Germans, with input from all the others.
Seems like it might work fine as long as things are good, but if any of the major countries were disproportionately affected by a recession, there could be trouble.
Precisely.
They are least smart enough to let the Bundesbank people take over the central banking, or did they let the French (or, God forbid, the Italians) do it?
I truly do hope so. But I don't trust the Bundesbank in the long run.
The HQ of the EU is in Brussels (capital of Belgium). That does not mean that the EU is controlled by Belgians. The EU is controlled by
"'Tis a fine old conflict let each stand in its place
The international bureaucrat will be the Human Race."