In a democracy, you see, the general public must be able to understand whether the central bank is fulfilling its mandate – whether it is doing its job properly. The monetary policy strategy is also supportive in this regard as a benchmark for successful monetary policy. 4 The Maastricht regulatory framework  The Maastricht Treaty created the institutional framework for the euro.
Besides enshrining the ECB (European Central Bank)’s mandate and independence, it also lays down the prohibition on monetary financing of government. This underscores the separation between monetary policy and fiscal policy.