Musical Chairs at ECB Leaves Germany on Guard for Doves’ Attack
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When the European Central Bank policy makers first convened in June 1998, Bundesbank President Hans Tietmeyer didn’t like what he saw.
The sign in the front of every seat shouldn’t carry the name of each nation’s central bank, but that of the ECB, he said. That would underscore how officials set monetary policy for the whole euro area and not represent their homelands.