The recent amendments to the statutes of the Banque de France represent a change in approach which was necessitated by the provisions of the Maastricht Treaty and which was largely unpopular. The political compromise reached in the dispute concerning the appointment of the first president of the ECB has to be seen against this background.
The aim of the eight-year term of office which is laid down in the Treaty and which cannot be extended is to ensure the independence of the incumbent.