Number of EU Countries Oppose Berlin’s Leadership in Monetary Policy

Number of EU Countries Oppose Berlin’s Leadership in Monetary Policy © AFP 2015/ DANIEL ROLAND

19:18 11.07.2015(updated 19:33 11.07.2015) Get short URL
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A number of the EU southern countries, including Spain and Cyprus, stand for the introduction of changes into the mandate of the ECB, which was created along the model of the German Federal Bank, according to the source.

BRUSSELS (Sputnik) — Several southern countries of the European Union are establishing an “anti-German front” to jointly oppose Berlin’s predominance in the issues of forming the eurozone monetary policy, a source in one of the political groups of the European Parliament said Saturday.

The source told RIA Novosti that today Germany dominates the internal debates in the European Central Bank (ECB) and the European Union’s politics as a whole and countries of Europe’s South want to oppose German leadership in the issues of the monetary policy.

According to the source, a number of the EU southern countries, including Spain and Cyprus, stand for the introduction of changes into the mandate of the ECB, which was created along the model of the German Federal Bank.

The ECB is a financial institution that administers monetary policy of the eurozone.

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