ABSTRACT
For the purpose of limiting uncertainty and risks in the process of controlled dismantling of the eurozone, the authors propose to maintain the European Central Bank during the transition period as the central bank responsible for monetary policy in all former eurozone countries. In this role the ECB would be also responsible for the technical preparation and introduction of the segmentation of the eurozone and for the management of the new currency coordination system. The chapter describes the proposed functions of the ECB and also discusses potential political objections against this proposal, as well as measures proposed in order to limit such objections. Finally, the chapter discusses the further evolution of the ECB’s role.
