ECB’s Constâncio advocates sovereignty transfer


Vítor Constâncio, vice-president of the European Central Bank (ECB), urged greater "sharing" of sovereignty between the national and European level in a speech in Berlin.

Constâncio discussed the importance of legitimacy to the four pillars – financial, fiscal, economic and political – of the region's Economic and Monetary Union (EMU) at the Hyman P Minsky Conference on November 26.

Developing a political union, the ECB vice-president said, is not a question of moving forward, but of catching up

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