2014-12-05 — telegraph.co.uk
``Both Die Zeit and Die Welt report that three members of the ECB's six-strong executive board refused to sign off on Mr Draghi's latest statement, an unprecedented mutiny in the sanctum sanctorum of the ECB's policy making machinery... it is hard to see how a deeply-split ECB can proceed -- as the Bank of Japan did most recently with a narrow 5:4 vote in favour of Abenomics II -- on an issue of such huge political and legal import as full QE... such action would be a recruiting trumpet for Germany's AFD anti-euro party and would endanger German popular and political consent for monetary union.
...
The ultimate success of EMU, [Draghi] said, "depends on the acknowledgment that sharing a single currency is political union, and following through with the consequences". Or put another way, once you have launched a monetary union, you have automatically launched a political union too. That is what EMU means.
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