this post was submitted on 20 Jan 2024
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ECB Study: Central Bank Independence vs Democratic Legitimacy (researchinenglish.com)
submitted 9 months ago by dvtt@lemmings.world to c/economics@lemmy.ml
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[–] LKPU26@lemmy.ml 1 points 9 months ago (1 children)

How did the US engineer the ECB?

[–] davel@lemmy.ml 1 points 9 months ago* (last edited 9 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.