Jacques, Robin, Helmut
IT WAS FUN to watch Europe's central bank governors on the day the Danes sprung their mine under monetary union. Jacques de Larosiere (Banque de France) was all for going faster, just to show. Robin Leigh-Pemberton (Bank of England) thought that the Danes did not know what was good for them and had probably not understood the question. Helmut Schlesinger (Bundesbank) had two nieces in Denmark, and they had rung up to ask Onkel Helmut which way to vote... The governors can no longer pretend that noth- ing had happened, and now their own bank managers, in the Bank for International Settlements, have come out on the Danes' side. Their annual report makes a scathing attack on monetary union in theory and practice. Perhaps the governors should con- sult Dr Schlesinger's nieces.
Previous page
