ECB welcomes new role in new European supervisor

ECB welcomes new role in new European supervisor

www.forbes.com

FRANKFURT, Nov 4 (Reuters) - The European Central Bank welcomed plans to give it the key role in a new European supervisory body, saying it would neither distract it from ensuring price stability nor create a threat to its independence.

In a legal opinion, the ECB welcomed plans for the European Systemic Risk Board (ESRB) -- a new body to be chaired by ECB President Jean-Claude Trichet.

The ESRB is part of the EU plans to make markets safer for investors by applying lessons from the cre

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Related News Links:
www.bloomberg.com

Nov. 4 (Bloomberg) -- Jean-Claude Trichet is struggling to control Germany’s Axel Weber and fellow European Central Bank council members who are flouting communications etiquette as the bank prepares to exit emergency stimulus measures.

www.bloomberg.com...

Seems to me that the pound will make the way of the USD dollar.

The conspiracist in me sees a continental version of hyperinflaition.

Hitler took over germany during hyperinflation, imagine an entire continent?

Maybe i'm looking too far, but hey, makes for discussion doesn't it?

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Originally posted by ModernAcademia
Seems to me that the pound will make the way of the USD dollar.

Do you mean the Euro?

There won't be hyperinflation with the Euro, its too powerful at the moment against the other big currencies and the bailouts/stimulus that was used in member economies were largely derived from surplus.

Just because there are some small growing pains in the Eurozone, that doesn't mean anything other than growing pains. These people's jobs are to control these foreseen problems. The "weaknesses" of the Euro in regards the flexibility amongst member states have actually become big strengths during the financial problems and show the future resilience of the currency.

It actually needs some kind of inflation in order to make the Eurozone countries more competitive in the world markets. Unfortunately EU law prevents this

[edit on 4/11/09 by Dermo]