“It seems that we are revisiting the whole argument about a European central bank. Many of us have the deepest misgivings about the establishment of such a bank, with no accountability to member states and an office life of eight years, in which it can do what it likes, provided that it supports the market economy throughout Europe, despite the social consequences. There is no time limit on the period of office of the political directors, and there is nothing about who they would be or where they would come from. But I ask the quite serious question: what on earth are these political directors to do, where do they come from, to whom are they answerable and how do we get rid of them if we do not like what they do?”

— Jeremy Corbyn

Speech http://hansard.millbanksystems.com/commons/1993/mar/30/treaty-on-european-union in the House of Commons (30 March 1993).
1990s

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Jeremy Corbyn 76

British Labour Party politician 1949

Rudiger Dornbusch (1942–2002) German economist

Euro fantasies, 1996

“Many of our leaders have gone past the old-fashioned politics of the democratic era and entered into the politics of fear. People running for national office no longer emphasize their views about the economy or social change. The leading political question of our time has become: who can ease our nightmares?”

John Twelve Hawks American writer

How We Live Now (2005)

“You should be concerned about the state of your soul, not the state of your bank account.”

Jennifer Weiner (1970) American writer

Source: Little Earthquakes

“Basel has several first-rate restaurants, and it may be that in the view of the central-bank delegates this advantage outweighs the travel inconvenience, for central banking -or at least European central banking- has a firmly established association with good living.”

John Brooks (writer) (1920–1993) American writer

Business Adventures: Twelve Classic Tales from the World of Wall Street

“This whole Jewish world, comprising a single exploiting sect, a kind of blood sucking people, a kind of organic destructive collective parasite, going beyond not only the frontiers of states, but of political opinion, this world is now, at least for the most part, at the disposal of Marx on the one hand, and of Rothschild on the other… This may seem strange. What can there be in common between socialism and a leading bank? The point is that authoritarian socialism, Marxist communism, demands a strong centralisation of the state. And where there is centralisation of the state, there must necessarily be a central bank, and where such a bank exists, the parasitic Jewish nation, speculating with the Labour of the people, will be found.”

Mikhail Bakunin (1814–1876) Russian revolutionary, philosopher, and theorist of collectivist anarchism

As quoted in Karl Marx: A Life, by Francis Wheen, London: UK, Fourth Estate (1999) p. 340.

“Economic and monetary union…is incompatible with independent sovereign states with control over their own fiscal and monetary policies. It would be impossible…to have irrevocably fixed exchange rates while individual countries retained independent monetary policies…such a system could never have the credibility necessary to persuade the market that there was no risk of realignment. Thus EMU inevitably implies a single European currency, with monetary decisions…taken not by national Governments and/or central banks, but by a European Central Bank. Nor would individual countries be able to retain responsibility for fiscal policy. With a single European monetary policy there would need to be central control over the size of budget deficits and, particularly, over their financing. New European institutions would be required, to determine overall Community fiscal policy and agree the distribution of deficits between individual Member States…It is clear that Economic and Monetary Union implies nothing less than European Government…and political union: the United States of Europe. That is simply not on the agenda now, nor will it be for the forseeable future.”

Nigel Lawson (1932) British Conservative politician and journalist

Speech to the Royal Institute for International Affairs, Chatham House (25 January 1989), quoted in The View from No. 11: Memoirs of a Tory Radical (London: Bantam, 1992), p. 910.