The flaws of the Maastrict Treaty are a frequent object of commentary but, as yet, Europe remains unable - or, perhaps more accurately, unwilling - to address these flaws. The European project will remain unfinished and the ability of the European Central Bank to implement effective monetary...

Mario Tonveronachi, University of Siena, builds on his earlier proposal (The ECB and the Single European Financial Market) to advance financial market integration in Europe through the creation of a single benchmark yield curve based on debt certificates (DCs) issued by the European Central Bank...