Tuesday 21 August 2012

MARIO DRAGHI, WHAT ARE HIS DEFINED FUNCTIONS ?



Angela Merkel was quick to nominate Mario Draghi to become the new Head of the Central European Bank (CEB) in the place of Jean Claude Trichet !!! 

However, he can only become efficient when his real functions are defined !!!  Does he have the responsibility of supervising the monetary policy of only the "EUROZONE" or of the whole of the EU ?

Bearing in mind that the EUROZONE is at present facing a "tempest", to be more precise the anticipated requests to shore up the financial conditions of Spain, Greece and probably Italy, does Angela Merkel expect him to be the "saviour" of the EURO and Germany, which with France  greatly finances these "temporary financial aids" !!!

Should the functions of the CEB not take into account that acting for the EUROZONE alone means there is a "conflict of interests" with respect to non-EURO currencies and in particular the Pound Sterling ?  

When MARIO DRAGHI decides what MUST be done for the EURO, would this also be favourable for the Pound Sterling and other smaller EU currencies ?

The Treaty of Lisbon does not explain what is expected of Mario Draghi, and likewise the functions of a Central European Bank.  The existence of a Eurozone and the rights of non-Eurozone countries is not addressed !!! 

It is a certainty that Britain will use its Veto when it gets a chance to vote !!! 

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