This trend culminated in the establishment of the European Central Bank, whose independence and clear price stability mandate took after the Bundesbank. That was undoubtedly a special tip of the hat to the Bundesbank and its work.
However, given the high esteem in which the Deutsche Mark was held and the central role which the Bundesbank played in monetary policy matters in Europe with its credible stability orientation, it was clear that the introduction of the euro was also a watershed for the German central bank.