While the mandate of the ECB is price stability, fiscal authorities have multiple mandates. So, if the central bank were to submit to political control, coordination with fiscal authorities would be unlikely to be limited to the lower bound. Fiscal authorities would have an incentive to use monetary policy to achieve other objectives.
And this would end up with monetary policy becoming fiscally dominated, which history shows is inconsistent with price stability in the long run. Distributional effects of unconventional measures The third claim against central bank independence relates to the distributional effects of unconventional policies. In particular, it is argued that the distributional effects are much larger than for conventional policies.