A call for reform of the ECB

Genevieve Signoret

Again we have Edward Harrison  to thank for pointing to this video of Professor Markus Kerber on the need for ECB reform. This is a great sample of German thinking on the ECB. Key quotes:

Within the central bank, Germany has as much voting power  as [unintelligible], as Cyrpus, as Malta, which is ridiculous.

[The ECB] has to be reformed, and it will be reformed. Otherwise Germany will leave the European monetary union.

[Stark] stepped down, and everyone understood: this is no longer the Bundesbank.