Who will prepare the documents for the meetings of the ECB Governing Council? Will there still be committees of experts delegated by the national central banks to at least help prepare the decisions of the ECB Governing Council? How large should the ECB be by comparison to the national central banks and how much staff will it need?
Each of these questions – and here I have picked out just a few – has been discussed by the EMI at great length. Most of them have been fully resolved – even though initial positions were sometimes diametrically opposed.