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That is a very peculiar definition of sovereignity. One which the general public does not share.
The general public is wrong on economics because they adhere to common-sense-conservative frames.
The general public is not ready to hand over power of budgets, taxes, health care and pensions to the EU.
But that's what they have done with the Maastricht Treaty.
It would take that to make EU institutions more powerful than the member states.
EU institutions can break the back of member states and hide behind "markets" as they do so.
As far as power over the ECB is concerned, you need to remember that the member states still hold the ultimate weapon. They can leave the Euro.
Quote me a treaty article allowing Euro exit. Until you do (and you won't be able to), all EU member states can do is leave the European Union altogether.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Fri Jul 20th, 2012 at 04:27:21 PM EST
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