Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I think I recall that at the time, France asked for a politic supervision of the independent central bank, which was refused, but not completely, the result being the eurogroup.
by Xavier in Paris on Mon Jun 29th, 2015 at 04:17:26 PM EST
[ Parent ]
Wasn't this more about assuaging British concerns about institutionalising a sub-EU unit?

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Mon Jun 29th, 2015 at 04:30:39 PM EST
[ Parent ]
France asked for a politic supervision of the independent central bank, which was refused

I do not know whether or not it was the British behind the refusal, but as unlikely as it might be in general that British concerns might be behind refusing something that the French wished to see happen (ahem)...

... it seems quite plausible that the British would object to setting up a formal political authority for the Eurozone ... it would be my first guess as to why "it was refused".

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Tue Jun 30th, 2015 at 08:13:01 AM EST
[ Parent ]
I think I remember Germany and the UK being on the same side there... Saxe-Cobourg in force! :-)

Joke aside, whereas Germany opposed thefrench proposal on the grounds that it would render the ECB dependent from a political body -which we now know was the thing to do-, Britain was more in line with your explanation: opposing whatever that may resemble a federal institution, and also opposing a european body that would exclude them.

by Xavier in Paris on Wed Jul 1st, 2015 at 01:01:43 AM EST
[ Parent ]


Occasional Series