When the Union takes a decision, it somehow looks as if it was a third entity – “Brussels” – who took it, rather than representatives of the Member States. In fact, the main decision-making body in the EU is the Council, which comprises representatives of the Member States, elected at the national level.
[22] For example, the estimated impact on inflation in 2025 of the ECB’s policy actions taken since December 2021 ranges from 0.9 to 3.9 percentage points across three of the ECB’s main macroeconomic models (Slide 9, right-hand side).