Democracy is overrated. Long live rule by technocrat. It is hard not to join in the euphoric mood following the European Central Bank’s unveiling of its all new Outright Monetary Transactions (OMT) scheme. What the title may lack in snappiness, the content makes up for with its hearty thwack of the ball back where it belongs — into the court of Europe’s national leaders.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.