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Are small countries too powerful within the ECB?

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  • Helge Berger
  • Jakob Haan

Abstract

This paper analyzes the possible consequences of diverging economic developments within the euro area, given the current decision-making process of the European Central Bank (ECB). For the German Bundesbank, the role model of the ECB, there is evidence that differences in the economic situation in the various states affected voting behavior in the Governing Council. For the euro area countries, the paper finds that, despite convergence, important differences in terms of economic performance and preferences remain. As all national central banks have one vote within the Governing Council of the ECB, there is a risk that national considerations may prevail over EMU-wide considerations. Copyright International Atlantic Economic Society 2002

Suggested Citation

  • Helge Berger & Jakob Haan, 2002. "Are small countries too powerful within the ECB?," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 30(3), pages 263-282, September.
    • Handle: RePEc:kap:atlecj:v:30:y:2002:i:3:p:263-282
    DOI: 10.1007/BF02298425
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    References listed on IDEAS

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