|Tuesday, Jul 10, 2012 - 5:30 AM
"Are Banks Now Ruling Europe?"
Europe: Democracy and the euro rescue - The European Union has a democracy deficit - for example, the European Parliament and national representative bodies generally have little input in Brussels' agenda. If the European Central Bank takes over as the single supervisory body for all EU banks, European nations will lose a measure of sovereignty. But implementing this measure from above would leave it lacking in democratic legitimacy. D