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Somalia's splendidly durable currency has strengthened from 32,000 shillings to the dollar last September to 22,000 this month.
Without naming anyone, Mr. Draghi expressed frustration Tuesday with leaders who have held up progress toward a more durable currency union.
But he also said that "the ball is in the court of the governments and other actors" to build a more durable currency union.
The fund acknowledged that it would take time to build a more durable currency union and said that central bank action was needed in the meantime.
The question in 2013 will be whether a fragile calm in Europe holds long enough for economic growth to resume, for banks to rebuild their balance sheets and for leaders to make progress creating a more durable currency union.
The upheaval in Italy means that other euro zone leaders may no longer have a reliable partner in the drive to create a more durable currency union and that Rome's voice in making European policy will be diminished, for now at least.
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"A durable, successful currency union requires some ceding of national sovereignty".
As such, Carney's overt message to Salmond was that a "durable, successful currency union requires some ceding of national sovereignty".
Such central resources mean that a region doing badly is automatically helped as its taxes fall and spending on welfare rises.Mr Carney's conclusion was that "a durable, successful currency union requires some ceding of national sovereignty".
"In short, a durable, successful currency union requires some ceding of national sovereignty.
Schaeuble shocked many last weekend by proposing that Athens take a "timeout" from the euro, a move that critics say would spark financial upheaval in Greece and undermine the credibility of the euro as a durable single currency.
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