Euro Area

[gaelic cowboy]

re the link.

trichet can has his financial supervision........... over the eurozone. i am perectly willing to let bloody minded british obstruction bring the entire shooting match down in chaos and misery, rather than be dragged into fiscal union.

liberty has a price, its just a question of how many trichet will sacrifice to pay for mine!

The reality is the ECB is TOO independent and this independence is killing the EU dream slowly a little bit more everyday.

Every time I hear an ECB board member say something like "Well will withdraw support from X if you default/restructure etc etc" I laugh, in a common currency the money flows over borders anyway.

He knows the time of strict independence of the ECB is coming to an end, after all it was only made so independent because the Germans didn't trust the French and Italians to mess with the currency.