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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (10928)	4/26/2002 8:28:45 AM
From: Bucky Katt	Read Replies (1) of 13094

Jim, this is a good read on the French and the implications it brings to the EU, and why the appointed EU ministers, and the Euro itself may have mo clothes. 64.29.208.119 There is already much discussion of a "democratic deficit" within the new institutions of the European Union. Amongst the reasons that the Federal Reserve or the Bank of England largely retain their political legitimacy is precisely because they still are to some degree accountable to their respective countries’ elected representatives. While the ECB stands as the only body that can implement economic policy on the EU level, it is neither answerable to the European Parliament (in an institutional framework comparable to what was formerly known as the Fed’s mandated Humphrey-Hawkins testimony), nor are its decisions at all transparent (in the manner in which both the Fed and Bank of England release monetary policy deliberations to the public 6 weeks after each meeting).

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