10  Article 127 also states that “Without prejudice to the objective of price stability, the ESCB shall support the general economic policies in the Union with a view to contributing to the achievement of the objectives of the union as laid down in Article 3 of the Treaty on European Union”, which include full employment.
On the ranking of the ESCB’s objectives, see, however, Perassi (2011), “La Banca centrale europea”, published in Enciclopedia del diritto, Annali IV, Giuffrè Editore, Milan. 2  BIS central bankers’ speeches  It is interesting to note that the Treaty endorsed the proposal that Ricardo had formulated almost two centuries earlier, providing the legal basis for the three principles he developed.