Bernanke Says Europe Needs Own Fed
Federal Reserve Chairman Ben Bernanke says that a central economic organization in Europe would help solve some of that continent’s economic crises.
“If Europe had a single fiscal authority, that would put them in a much closer situation relative to the United States,” Bernanke said today. “That would probably address many of the concerns, many of the problems that they had.”
Source: ABC News. Read full article. (link)
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A central bank like the Fed is not a fiscal authority.