This so-called Maastricht Approach is geared to the principle of open markets, a principle that is guaranteed in the single European market by the four fundamental freedoms: free movement of goods, capital, services and people. The Maastricht framework is founded on the principle of subsidiarity, which was enshrined in the treaties of the European Union.
Simply put, the monetary system did not meet the country’s needs. It was a system in crisis, boiling over repeatedly, harming the country. Central banks are designed in part to help the financial system meet occasional liquidity strains. When demands for liquidity rise, central banks can respond by increasing the supply of money and thus adding liquidity to the system.