By stating that it welcomed efforts made by those governments in an effort to reduce their respective budget deficits, the central bank is prostituting itself to a failing political system within the Eurozone.

FORBES: Downgrade Be Damned, Greenback And U.S. Bonds Ride Higher

This is also reflected in its federal political system, whereby power is shared between the central government and 28 states.

BBC: India profile

It sometimes feels that way today: for while there is much statistical information published by the central banks, and while some are now even putting themselves up for ritual grillings by journalists, it's very hard to find a hard-edged discussion of the economic, political, diplomatic and strategic role of central banks within the current system.

BBC: Central banks are part of the state

Selling even this flawed system to people in producer countries, where organised crime is the central political issue, is fairly easy.

ECONOMIST: Failed states and failed policies