4  BIS Review 43/2002  The run-up to an enlarged Europe also is an opportunity to stress what I would call two core principles for the functioning and the strategy of the Eurosystem. 4. Independence  In Europe, independence is a quite recent principle. Today it is also acknowledged that it is an indisputable one.
Independence is one of the key items to be implemented in the framework of the acquis communautaire. But this issue does not only relay to accession countries. As you have seen in the recent convergence report of Sweden, we consider that the present Swedish law is still not compliant with the requests needed for the Swedish central bank to enter the euro.