The ECB recognises that its strategy requires a constant and active effort at communication with the public. Active communication is particularly important for the Eurosystem given its unique and new institutional position. The ECB wishes to be held accountable not just in a formal sense to the European Parliament as described in the Treaty, but also more broadly to the public at large.
In order for the public to assess the performance of the ECB against the yardstick offered by the definition of price stability, the ECB must ensure that the public is provided with the relevant information. 6. Concluding remarks  I have described in some detail the main aspects of the ECB’s policy making framework.