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The man said "democratic control".

The Eurogroup is democratic?

I used to be afew. I'm still not many.

by john_evans (john(dot)evans(dot)et(at)gmail(dot)com) on Thu Jul 16th, 2015 at 02:24:50 PM EST
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Wlected governments taking over from unelected bureaucrats. That would end central bank independence or not?
by IM on Thu Jul 16th, 2015 at 02:30:04 PM EST
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What it would end is central bank unaccountability.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Thu Jul 16th, 2015 at 02:33:03 PM EST
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I did not argue about that. I asked that if a independent central bank is a bad idea and the independence should be abolished, wouldn't eurogroup control - like say at the ESM - achieve that?
by IM on Thu Jul 16th, 2015 at 02:36:01 PM EST
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I want also discus the Eurogroup at some point. And why it is undemocratic. But indeed this is quite complicated. On purely formal level the Eurogroup is democratic. Just a year ago I also would have been inclined to leave it there. But the shocking events of the last few month have made me reevaluate my point of view.
by rz on Thu Jul 16th, 2015 at 02:39:26 PM EST
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Then at least it would be explicitly political rather than faux apolitical.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Thu Jul 16th, 2015 at 04:34:34 PM EST
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