A good dose of Anglo-Saxon culture is what the European Central Bank needs on its executive board, and the quickest way to achieve that is for the UK to join the euro. This isn’t UK prime minister Tony Blair speaking, it’s Francesco Giavazzi, economics professor at Bocconi University in Milan.
Peter Garber, global risk strategist at Deutsche Bank had asked: could the ECB ever be like the US Federal Reserve – readily supporting and intervening in financial markets and allowing all sorts of exotic intermediaries to flourish? “It depends when the UK joins Emu,” Giavazzi said.
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