Why democracy is essential to monetary stability : and why EMU will have neither

by Stefan Homburg

The article points out that monetary stability does not hinge upon formal central bank independence. The reason is that the legislator can easily restrict that independence by changing the law. Because the EU council as the true legislator does not face effective supervision by the citizens it is likely that it will behave as a leviathan.

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Year of publication:	1997
Authors:	Homburg, Stefan
Publisher:	[London : European Foundation]
Subject:	Euro \| EMU \| Eurozone \| Euro area \| EU-Staaten \| EU countries \| Demokratie \| Democracy \| Geldpolitik \| Monetary policy \| Wechselkurspolitik \| Exchange rate policy

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Extent:	Online-Ressource (S. 13) graph. Darst.
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Parallel als Druckausg. erschienen Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/93250 [Handle]
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010373533