May 19, 2008
There is vast empirical evidence in Europe and around the world which shows that Independent Central Banks are far better able to achieve their aims than Central Banks which suffer from political influence. The ECB is a sterling example as its policies are not affected by political actors.
Economic theory also shows that political considerations and lobby groups are what lead primarily to sub-optimal trade policies.
I would suggest a completely independent Trade Authority for Europe which would be able to judge whether a deal was good or bad for EU welfare as a whole rather than being influenced unduly by regional considerations.Author : EMI