Then there is the obligation to render regular and clear account for our actions, to be unflagging in explaining our actions and, if possible, winning support, because the ultimate foundation of the independence of a central bank is not a law, nor even a treaty, but the acceptance by the people concerned of the policy being implemented.
With this in mind, I think it was among others wise to keep the Bank’s Council of Regency in existence, even if it has finally lost all monetary power. It offers an irreplaceable opportunity for dialogue between the directors of the central bank and the experts representing the main spheres of Belgian society.