Dr Stark, I would like to extend a very special word of thanks to you for your stewardship of the Bundesbank during these three difficult weeks. It is thanks to you personally that the loss of reputation sustained by the Bundesbank was held in check. 1.
Independence  The special circumstances in which the change of office took place again reminded the general public that the independence of central banks is enshrined in law and for good reasons. This reminder may not have come in the right manner, but it certainly came at the right time.