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Relations between the ECB and the Bundesbank, Germany's traditionally hawkish central bank, are in the dumps.The ECB's intention, however, is not so different from Deutsche Skatbank's: to encourage savers to switch to riskier assets, spurring productive investment.
That dilemma plays into the tension between the ECB and the Bundesbank.
The more distance there is between the ECB and the firewall that is eventually constructed, the less useful it will be.
Were Australia to follow India's example by refusing to allow their top players to take part in England's relaunched Twenty20 league, relations between the ECB and other major international nations would sink to a new low.
Currently the legal agreement between the ECB and Pietersen has meant that the latter has held the high ground in the public relations battle in which he is portrayed as victim.
Pietersen's contract with Surrey will be cancelled when the negotiations between the ECB and the Professional Cricketers Association to terminate his central deal with England are completed, as all parties expect them to be in the coming days.
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James also rejected MacLaurin's assertion that there was no independent witness at the initial meeting between Lewis and the ECB who could recollect the precise nature of the conversation.
Were the Olympic Stadium to host games, other grounds would lose out, adding to tensions between counties and the ECB at a time when the governing body is attempting to push forward with a new streamlined Twenty20 domestic competition – a tournament for which the London Stadium will also be considered.
"There have been untruthful allegations in the media implicating members of our squad in the current issue between Kevin Pietersen and the ECB," he said.
"This internal issue between Kevin Pietersen and the ECB has been publicised for weeks even before we arrived in the UK, and we do not want to get ourselves involved in an issue that has nothing to do with us".
A swap deal between the Federal Reserve and the ECB, intended to last until January 2011, allows banks to borrow dollars for seven days at 1.25%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com