ECB independence and political control

Watch the full 42-minute video at http://www.goldmoney.com/rickards-turk-interview. James G. Rickards (http://www.tangentcapital.com) and James Turk, Director of the GoldMoney Foundation, talk about the European Central Bank’s role in the crisis and how it is becoming increasingly politicised, in contrast with its predecessor of sorts – the Bundesbank. They talk about the possible differences between Jean-Claude Trichet and his successor Mario Draghi. James Rickards explains how Europe is developing a common fiscal policy with a common Treasury, in the form of the European Financial Stability Facility (EFSF), which will dictate fiscal policy for many member countries in exchange for rescue funds.

This interview was recorded on August 4 2011 in London.