ID

We are witnessing the EU’s declining normative influence in three levels: inner circle of membership, middle circle of prospective members and outer circle of neighbourhood, and is expressed in the primacy of hard core economics, the weaker promotion of democracy, the inefficient political conditionality and the gradual realisation that illiberalism is becoming a threatening part of several national competitive politics.

Sign_of_Georgian_Lari_on_the_wall

I don’t believe that we need central banking, monetary policy or our national monetary unit. Without this, we can’t avoid two essential problems – politicization of the monetary politics and also its competitiveness. But by saying this I do not wish to imply that in this particular case of devaluation of the lari the central banking system was the major problem. Quite the opposite.