Author Description

With The Start Of Emu, The Eurosystem Has Taken Over Monetary Policy For The 11 Countries Of The Euro-area. But The Division Of Powers Within The Eurosystem, Between The European Central Bank And The Constituent National Central Banks, Is Not Satisfactory. This Volume Provides An Analysis Of The Strengths And Weaknesses Of The Eurosystem And Offers Concrete Proposals Concerning The Decision-making Organs, Balance Sheets And The Distribution Of Seigniorage. Cover; Contents; Foreword; Introduction; 1. Who Is In Charge Of The Eurosystem?; 2. Who Takes Care Of Financial Stability In Europe?; 3. Are European Central Banks Over-capitalized?; 4. Who Gets The Seigniorage?; 5. How Can The Eurosystem Become (and Remain) Independent?...; 6....and Accountable?; 7. 3 X 2 Concrete Proposals For Strengthening The Eurosystem; Annexes; Index; Names Index By L. Smaghi, D. Gros. In Association With The Centre For European Policy Studies. Includes Bibliographical References And Indexes. English