Distribution of national seigniorage profits is a matter for governments – ECB
New head of Commission’s civil service is seen as key backer of seigniorage proposals
The European Central Bank has said that individual eurozone countries must decide whether they direct profits from seigniorage to the European Commission, the European Union’s executive arm.
An official statement from the ECB noted that any attempt to change how it distributes the profits of seigniorage in the eurozone would require amendments to the law that governs the institution.
European commissioners privately discussed proposals to take such a step at their meeting yesterday (March 28)
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