This makes trust, credibility, and effectiveness even more important. During the crisis and its aftermath, the use of communication as a powerful crisis management tool was seen even beyond the usual boundaries of forward guidance. In 2012, the European sovereign debt crisis was at its peak.
It is more efficient if in the area of implementing corporate decisions and in the direction of everyday work individual responsibility is placed in the foreground. XII. Clarifying the goals, accountability and an efficient decision-making structure. These are the conditions that produce the appropriate institutional framework for the efficient and predictable running of the central bank, and efficient co-operation with the Government.