this post was submitted on 20 Jan 2024
12 points (92.9% liked)

Economics

1715 readers
14 users here now

founded 5 years ago
MODERATORS
[email protected]
12
ECB Study: Central Bank Independence vs Democratic Legitimacy (researchinenglish.com)
submitted 10 months ago by [email protected] to c/[email protected]
4 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 1 points 10 months ago (1 children)

How did the US engineer the ECB?

[–] [email protected] -1 points 10 months ago* (last edited 10 months ago)

Its design has Washington Consensus fingerprints all over it. Not to say that the US did it alone, without the involvement of European capitalists. The US has military bases all over Europe: major decisions don’t happen without the US’s tacit approval. The US had Europe in a vassal position during the Bretton Woods era, and wasn’t about to give up its economic dominance.