Collective responsibility is, at the same time, a protection against external political influences. The specialist judgement,  BIS Review 20/1998  -4-  unencumbered by tactical and political considerations, is the basis of the legitimacy in taking decisions on interest rates and the money stock independently of political bodies.
This may sound self-evident for a policymaker, but Duisenberg interpreted this differently from a politician. He demonstrated that a central banker should look at the long term costs and benefits.