Research and past experience have shown that central bank independence is a necessary  BIS Review 106/2008  1  precondition for monetary policy to be credibly and efficiently geared towards preserving price stability.
A most important feature of the ECB’s institutional framework is that the mandate and the independence of the ECB are particularly well-protected since the Treaty can only be amended by unanimous decision of the Member States. The second cornerstone of the single monetary policy in the EMU is the ECB’s monetary strategy.