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The bit I don't get is how the German Constitutional Court can be the final arbiter of what the ECB can and can't do. Can't the German representative on the ECB Board simply be outvoted?

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue Oct 29th, 2013 at 07:52:49 PM EST
Can't the German representative on the ECB Board simply be outvoted?

In theory he could be. In reality I suspect that the other countries are afraid Germany would retaliate in ways to dreadful to contemplate. But what could Germany do that would be worse than leaving the Euro? And Germany leaving the Euro might be the least messy way to resolve the current situation, provided those who remain had the good sense to insist that the ECB start acting like a central bank and to create an EMU treasury as a fiscal agent. This might be the least radical means to get to the sorts of benefits and policies I had suggested for a Seuro Zone. Would Holland really be so stupid as have France follow Germany out of the EMU and off the Euro?

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Oct 30th, 2013 at 12:33:56 AM EST
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ARGeezer:
But what could Germany do that would be worse than leaving the Euro?

Staying in and bullying everybody else?

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Oct 30th, 2013 at 02:41:51 AM EST
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