To quote Walter Eucken again: “Whoever reaps the benefits must also bear the liability.”    And the primacy of monetary policy, as this has engendered a debate which could weaken the framework of monetary union in the long term. 4.1  Strengthen the principle of liability  Let me begin with the principle of liability.
As history has repeatedly shown, no matter how rich the endowment, natural resources cannot, on their own, develop a country in the absence of appropriate and effective institutions.