On Dec 10, 2011, at 1:29 PM, James Heartfield wrote:
> ‘The proposal would be a formalization of banker rule over the eurozone’ – maybe you are under the illusion that the Eurozone is a socialist paradise, where banks have no sway? Merkel’s proposal is a centralised brake on all public spending, and oversight of national budgets to achieve that.
Where ever did you get the idea that I think that the EZ is a socialist paradise? I said "formalization" because it would consolidate a less formal practice into law.