We can not avoid the fact that, as a country, we have squandered large amounts of capital on projects which have only a minimal benefit for future growth.
This committee structure – different from the technical committee procedure present in other European decision-making bodies – invokes the idea of a participatory decision-making process which benefits from the sharing of experience and know-how among national central banks, under the aegis of the ECB. The ECB’s Legal Committee is a genuine example of the identity of the Eurosystem and the ESCB.