The Monetary Cosmopolitans
In recent years, countries have increasingly turned to foreigners and people with considerable foreign experience to assume top positions at their central banks. In doing so, they are combating the "groupthink" that has long impeded policymakers' ability to develop innovative responses to new challenges.
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NEWTON, MASSACHUSETTS – Can you imagine a French citizen being elected President of the United States? Or a Japanese prime minister of the United Kingdom? Or a Mexican chancellor of Germany? Probably not. Indeed, even if there were no legal obstacles, it would be difficult to imagine voters in a democracy installing a foreigner in their government’s top job.