In order that the various international organisations can carry out their allotted tasks, it is apparent that they must enjoy some measure of international personality. (1)

The European Central Bank had the advantage of having its statuses enshrined in an international treaty which required the unanimous agreement of all European Union member states to change. (2)

Notwithstanding this advantage, the EU Commissioner of Economic and Monetary Affairs from time to time also participates in the fortnightly meetings of the ECB governing council which sets the general policies for the ECB. (3)

This means no ECB independence vis-à-vis the EU Commission.

That is the present situation without the EU Lisbon treaty yet having entered into force.

Now,
through the Lisbon treaty which should enter into force, Czech president Vaclav Klaus permitting, on 01 January 2010,
the ECB would be recognised as an institution of the EU, joining the Council of the EU, the European Commission and the European Parliament,
even though it has legal personality. (4)

The Lisbon treaty is thus the unanimous agreement of all EU member states to change the status of the ECB.

What’s left of the independence of the  ECB bureaucrats from the other EU bureaucrats?

To repeat, in order that the various international organisations can carry out their allotted tasks, it is apparent that they must enjoy some measure of international personality.

Let me add that in the old days, central banksterism used to be independent.

Let me also add that before the parasites invented central banksterism,
banks used to have the right to issue receipts for the gold they held in reserve in warehouse
and that this right was taken away from them by the institution of central banksters. (5)

Ivo Cerckel
honestmoney@maktoob.com
http://twitter.com/ivocerckel/

NOTES

(1)   
Martin Dixon, “Textbook on International Law”, Mayfield, East Sussex, Blackstone Press Limited, 1993, 2nd ed. section 5.2.3, p. 97

(2)   
Darren Williams and Richard Reid, “A central bank for Europe”, in: Paul Temperton, (ed.), “The euro”, John Wiley and Sons, 1998, 2nd edition, 123, pp. 137-8

(3)
Economic and Monetary Union and the Euro
3. The European Central Bank (ECB)
http://www.eu4journalists.eu/index.php/dossiers/english/C23/23/

(4)
The economic governance of the European Union in the light of the Treaty of Lisbon: harmonisation or competition between countries?
Lorenzo Bini Smaghi, Member of the Executive Board of the ECB
Speech given at the conference on:
The European Central Bank: a new actor on the international scene,
Milan, 24 January 2008
http://www.ecb.int/press/key/date/2008/html/sp080124.en.html

(5)
Roland Leuschel and Claus Vogt, “Das Greenspan Dossier, Wie die US-Notenbank das Weltwährungssystem gefährdet. Oder: Inflation um jeden Preis”, www.finanzbuchverlag.de, 2006, 3rd ed., p. 299