There is no need to reform the Monetary Policy Council (MPC) of the Bank of France, which advises Governor Jean-Claude Trichet, according to Raymond Douyere, a former Socialist Party parliamentarian appointed to the nine-member MPC in 2000. "Abolishing the MPC would raise questions about the concept of the decentralized eurozone central bank system," Douyere explained in an interview with a newswire.
Since the launch of European Monetary Union in 1999 with the European Central Bank governing c
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