Saturday, November 15, 2014


Speech by Benoît Cœuré, Member of the Executive Board of the ECB:

... the Maastricht Treaty enshrines the principle of monetary dominance. Indeed, price stability in the region as a whole is the single most important coordination device for other economic policies, reaching out into various policy domains across the member states of the euro area.

When Ireland, France, and Denmark voted by referendum on ratification of the Maastricht Treaty, did anyone explain at the time that it was embedding monetary dominance in the European Union?