In fact, economic freedom requires a sound legal structure and a law-enforcing system to protect the property rights of owners and enforce contracts in an even-handed manner. The EU Treaty adheres to these ordo-liberal principles. The conduct of monetary policy was made independent.
The members of the decision making body of the ECB, the Governing Council, were shielded from external influence on the highest level (Art. 1301). The independence of monetary policy should however not be confused with a “carte blanche”. The Treaty clearly defines boundaries. To counter-balance this high degree of freedom, the tasks are clearly defined.