ECB independence

The ECB is granted independence by the Treaty of
Maastricht formally, namely from a purely legal point of view, a secure independence. This is because its statute, namely the “Protocol on the Statute of the European System of Central Banks and of the European Central Bank,” which is laid down in the Treaty, can be amended only if all the contracting states amend the Treaty and obtain the consent of their parliaments to do so. Such a lengthy procedure does not get off the ground easily. – Another question, of course, is the extent to which the actions of the ECB’s decision-making bodies themselves jeopardize its independence, for example by accommodating the southern front by purchasing government bonds of members acting blithely against the Stability and Growth Pact by majority vote. – See ECB sinfall, hegemon, milder, savior.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/