Let me, without the pretension of being exhaustive, briefly touch on several aspects of this new corpus iuris monetae and explain how we, at a Community level, have tried to strike a balance between unification on the one hand, and differentiation on the other. Institutionally, legal convergence has taken place with regard to the statutes of the EU NCBs.
The EU Treaty prescribes that the ESCB NCBs are independent and that the Eurosystem NCBs are fully integrated into the Eurosystem. This requires the adaptation of statutes of NCBs. However, the legal requirements for central bank independence and integration in the Eurosystem are not precisely defined in the Treaty.