The competitive advantage of ordoliberalism after 1945 was that it could be sold as a lesson learned the hard way from the statist-dictatorial Nazi regime and its war economy: from the failure, political, moral and economic, of the Behemoth

Today’s post-democratic, or better perhaps: a-democratic, Hayekian capitalism, after the victory, or almost-victory, of neoliberalism, may be regarded as a historically updated version of ordoliberalism

[...] While other central banks are embedded in a state with coextensive jurisdiction and have to face a government and a public at the same territorial and political level, the currency and the common market the ECB runs are stateless (as is, essentially, the legal system governed by the ECJ). This makes the ECB the most independent central bank in the world, and its monetary regime the most depoliticized. Unlike Keynesian money, the euro is nothing but a means of exchange and a store of value; it is in particular not suitable for democratic market correction, for example in pursuit of full employment. European money, as conceived in the treaties that created it, is Austrian, ordoliberal and neoliberal money.

For several years now the ECB has routinely been acting extra legem to fill the political vacuum created at the centre of the EMU by its founders, with the intention to build Euroland into the apolitical capitalist market economy of neoliberalism