According to this idea, once the central bankers have been appointed by the political authority - because, fortunately, they do not coopt themselves - they act to the best of their knowledge and belief, without seeking or accepting any instructions, in taking the decisions which they consider most appropriate for attaining the objectives assigned to them by the Treaty on European Union and the national laws.
Most people believe that such a system ensures the optimum credibility and effectiveness for monetary policy, in particular making it possible to keep interest rates relatively low. But this greater autonomy also entails greater obligations for us: we are aware of these and I shall pay particular attention to them.