Mr O’Connell gives a review on the euro and the European Central Bank and makes a few brief remarks on the world economy  Statement by Mr Maurice O’Connell, Governor of the Central Bank of Ireland, to the Irish Parliament’s Joint Committee on European Affairs, Dublin, on 23 February 2000.
But this is not the case. It is something that has evolved over time. In fact, the Bank of England, which in literature is often held up as the epitome of 'best practice' in central banking, was only granted monetary policy independence in 1997.