They have just seen for themselves the extent to which they share a common destiny. Q: Why not jointly manage some of the debt of European States? A: We have always been opposed to merging treasury operations, because this would strip States of their responsibilities and they would lose the financial incentive for sound governance.
Let me begin by welcoming all of you to the Federal Reserve Bank of Minneapolis to celebrate this auspicious event – the 50th anniversary celebration of the Minnesota Council on Economic Education (MCEE).