Within the Commission in particular, a technical core, the custodian of the common  BIS central bankers’ speeches  11  rules, coexists with the embryo of a politically responsible government. A synthesis must be found in the interests of the proper functioning of the internal market and the European economy.
The authorities responsible for monetary policy and for banking supervision, whose independence from political institutions is sanctioned by the European rules, seek to strike a balance between rules and discretion: neither arbitrary power nor blinkered, acritical application of the rules. In the appropriate ways and at the opportune time, actions and decisions are made accountable.