Those who systematically sung the praises of the most accommodative monetary policies have come to realise, over the last 18 months, that this  BIS Review 9/2009  1  was too simplistic a view. The ECB’s Governing Council does what the Treaty on European Union asks it to do, on behalf of 329 million European citizens in the euro area.
While I was Governor of the Banque de France, there was also a public debate on the decisions of the Monetary Policy Council, which some 70% of French citizens approved, across all public sensibilities.