It was produced by a committee set up to assess – even then – the underlying causes behind a number of corporate failures. Since then, attention given to the theme of corporate governance – which has a multidisciplinary nature, bringing together knowledge of economics, finance, accounting, law, management and organisational behaviour – has not stopped growing.
However, the risk is very slight as this principle of independence is set in stone in the Treaty. I would add that the lack of visibility and substance of the political axis and the European Central Bank’s “institutional loneliness” all too often, and quite unfairly, make the ECB an escape goat for everything that is going wrong in Europe.