15 I maintained that central bank independence could best be described as independence in interdependence, since monetary policy can always achieve its objective eventually, but it will do so faster, and with less collateral effects, if the overall policy mix is consistent. What I am saying here is that the same applies at the global level. We may not need formal coordination of policies.
The referendum on joining the EU in 1994 was backed by a very solid two-thirds majority. However, there have been periods of EU scepticism as well. The root causes for such scepticism are manifold. Sometimes they are vague and difficult to grasp, sometimes they are specific. There is no ready-made solution to counteract bouts of EU scepticism.