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"Right now most decisions are taken by the Commission and the ECB, which are neither directly nor indirectly elected by the people. A bit more democracy would h
by tiatia 10y ago
"Right now most decisions are taken by the Commission and the ECB, which are neither directly nor indirectly elected by the people. A bit more democracy would help here."
The ECB was modeled more or less after the German Central Bank who made the German Mark a huge success. There are good reasons to NOT make the central Bank "democratic" or a toy of politicians.
- tomp 10y agoFunny enough, the Bundesbank has been criticising the ECB pretty harshly recently.
- mtanski 10y agoA great example of what you get when financial decisions made at the current political whim is the looming unfunded pension crisis in Chicago / Illinois, New Jersey. There are a lot of places right behind those as well. Super easy to make promises for when you no longer be around to deliver on... Esp if you need votes now.
- pessimizer 10y agoChicago and Illinois are terrible examples. Their collapse is due purely to graft and deals between insiders, and there has never been a change in whim. Financial decisions were made by unaccountable appointees for the benefit of their friends and relatives.