ECB voting reform urgently needed economists claim

UK - The way in which the European Central Bank sets interest rates needs to be reformed urgently in order to prepare for enlargement of the European Union, a group of leading economists said.

In a report published Wednesday, four European academics said the ECB should abandon the practice of allocating votes to the heads of central banks in countries that are members of the euro zone.

Instead, they said interest rate decisions should be left to a group comprised of the six-strong executive boa

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