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That is limiting the view to the legitimate powers of the ECB. Since the crisis the ECB and the Eurogroup hass also grabbed power with both hands.

It was as far as I understand the ECB that put Greece under economic blockade in the summer of 2015. The advantage is the loweer visibility it gets then sending in ships to blockade the harbours, but the effects were similar. If the ECB wanted to they could stop wielding the stick when it comes to the deficit countries, there is nothing in the treaties that demands that they do so.

by fjallstrom on Wed Jan 31st, 2018 at 03:43:03 PM EST
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