They don't give up the advantages of central banking at all.
What they give up is political control of their bank. There are advantages to having political control, but often political control is abused - which is why failed states have given up on it as part of their efforts to rebound. The US and EU both have controls in place to limit the power of politicians from making changes for political reasons.
What they give up is political control of their bank. There are advantages to having political control, but often political control is abused - which is why failed states have given up on it as part of their efforts to rebound. The US and EU both have controls in place to limit the power of politicians from making changes for political reasons.