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Are central bankers grabbing too much power?

Duration:
28 minutes
First broadcast:
Saturday 08 September 2012

As the ECB brings in a new scheme to save the euro, the programme asks whether central banks have been over reaching themselves. Have they been poking their noses into stuff that should be left to elected politicians?

Plus central bankers' impenetrable jargon: In the Balance's resident comedian Colm O'Regan reckons parents could deploy that kind of language next time the kids ask for more pocket money.

Discussing these issues with Lesley Curwen - naturally in the clearest way possible - are Randall Kroszner, former member of the Board of Governors of the Federal Reserve, who was chair of its Committee on Supervision and Regulation of Banking Institutions during the global financial crisis; Professor David Blanchflower, formerly a member of the Bank of England's interest rate-setting Monetary Policy Committee and economist Gabriel Stein, from the Official Monetary and Financial Institutions Forum, who's also managing director of Stein Brothers UK.

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