The ECB has published its first “minutes” of the Governing Council, following up a promise made last year.
The move of Eurozone banking supervision to the supranational level represents a genuine novelty in Europe’s economic governance.
In an article on the bailout of the Cyprus Popular Bank, the New York Times describes internal disputes within the European Central Bank on the basis of leaked ECB minutes – an episode that epitomises some of the challenges faced by historians.
The article argues that many of the issues that are causing trouble in the eurozone today had long been debated, but not solved, prior to the beginning of the so-called euro crisis.
La crise de la zone euro a révélé les faiblesses constitutives de la monnaie unique ; mais les débats portant sur sa viabilité se limitent trop souvent à une vision purement économique de la zone euro. L’histoire complexe de la création de l’euro éclaire les enjeux financiers et politiques internationaux de l’unification monétaire.
This paper sheds light on the current euro crisis by looking at the debates preceding the conception of the euro. How can the early days of EU monetary cooperation help us understand today’s predicament? And what lessons can we draw from them for the euro?