As a matter of fact, the framework’s weak spots were located precisely where basic principles of economic policy had been neglected. I would like to discuss two points in greater depth.   The principle of liability, without which no market economy can function.
To quote Walter Eucken again: “Whoever reaps the benefits must also bear the liability.”    And the primacy of monetary policy, as this has engendered a debate which could weaken the framework of monetary union in the long term. 4.1  Strengthen the principle of liability  Let me begin with the principle of liability.