The Treaty also states that the European System of Central Banks shall support the general economic policies in the European Community, as long as it can do so without prejudice to the objective of price stability.
The very wording of the Treaty reveals its logic, namely that the best contribution which monetary policy can make to high employment and economic growth is to maintain price stability. In its very essence, Economic and Monetary Union is of course a European endeavour. However, even at this stage it is clear that the introduction of the euro has implications for the global economy.