Analysis: Powers for European Commission and ECB raise questions

11/2/2010 | Reuters

The euro zone's sovereign-debt crisis resulted in additional powers for the European Central Bank and the European Commission in relation to financial supervision and economic governance. The changes are raising questions about the independence of the ECB, democratic accountability and other issues. "The democratic legitimacy of all our processes of economic governance is the big question, not just of the ECB but of the euro zone," said Sylvie Goulard, a French member of the European Parliament's committee for economic and monetary affairs.

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