13 September 2012

EUROZONE : Analysis : Latin Nations Have Won The Euro Fight.

    ANALYSIS by Peter Boone/Simon Johnson

     'The verdict is now in: traditional German values lost and the Latin perspective won.'
     And..."one nation, one vote” really does rule at the ECB; Germany has around ¼ of the population of the euro area (81 million out of a total around 333 million), but only one vote out of 17 on the ECB governing council – and apparently no veto.  The balance of power and decision-making has shifted towards the troubled periphery of Europe.  The “soft money” wing of the euro area is in the ascendancy."