Furthermore, the ECB Governing Council may decide by a two-thirds majority that certain activities fail to comply with the contractual and statutory tasks and duties of the ESCB and may decree their discontinuation. Previous work by the EMI on this issue, particularly studies on legal convergence, indicate that restrictions will be imposed only if such an activity threatens to impair the single monetary policy.
We have had some very centralized states, like France for example, and to some extent even the UK. And after World War II the Americans imposed an extremely decentralized constitution on Germany, whose efficiency is now put into question.