ECB, how to teach an old dog a trick

Current lack of action from ECB officials on interest rates and banks supervision is considered by many observers to be denting European growth potential. Lack of action would probably change into activism if central bankers were to be prevented from entering into consulting contracts with financial institutions once their institutional mandates expire. In addition, central bankers compensation could be based on the longer term effect of their decisions, as should be the case with top managementompensation at big corporations..

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