PM reforms might indeed go against of the Maastricht Treaty, which restricts the direct public creation of money (depending on how the law is interpreted). However, we’re simply setting out what we think is the best possible banking and monetary system, and various groups around Europe (and elsewhere in the World) have proposals similar to PM’s. If PM and the latter groups are right, then Maastricht may need amending. In addition, most of the key principles of the Maastricht treaty have been ignored by European governments throughout the Eurozone crisis.
Posted in: 3. The Positive Money proposals