To ensure that the ambitious goals of monetary union are accomplished, the Maastricht Treaty sets out a clear and transparent framework for the institutional implementation of monetary policy in the euro area. As Article 105 of the Treaty establishing the European Community stipulates, “The primary objective of the ESCB shall be to maintain price stability.
Without prejudice to the objective of price stability, the ESCB shall support the general economic policies in the Community.” In other words, the maintenance of price stability is the most important guiding principle of the architecture of the European System of Central Banks.