Sometime in the next 24 hours we will be switching European Tribune over to a new layout. This will involve a little downtime and no doubt some teething troubles. Do not adjust your set. - Colman

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The misunderstanding which permeates Economics is to regard the relationship between Treasury and Central Bank as a counter-party relationship when it's an agency relationship.

True, but then you have thing like the Maastricht Treaty where the relationship is regarded as adversarial...

Sort of auto-immune.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Migeru (migeru at eurotrib dot com) on Mon Jan 7th, 2013 at 12:01:40 AM EST
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