He shows that there was no West German consensus for central banking independence when the Federal Republic of Germany was established in 1949. Far from it, the issue was a controversial one. This was because of the poor record of central banking independence during the inter-war period.
I always wondered how supported the “inflation trauma” is. It seems to be kept alive mainly by the madia because it makes the narrative easier. The article somewhat supports my hypothesis that the Bundesbank is usually “getting away with murder” (70s, reunification, early 00s) and can easily shift blame on to politicians or other institutions. Will have to read his thesis or papers when they are public.
That time of the month! Topics: Eurobonds, James Bond(s), Facebook IPO, inflation.
Writing a column about Bankia. Got to say, it’s a good name for a bank.
For the avoidance of doubt, there is no such thing as ‘American English’. There is the English language and there are mistakes.