Central bank Quote by Gerhard Schroder
“We made a decision that monetary policy will be made by an independent European Central Bank.”
About This Quote
Source Speech: European Council Meeting, 1999
Announced the decision to grant the European Central Bank independence in monetary policy.
In simple terms: ECB given independence over monetary decisions.
Support central bank autonomy for stable economies.
Themes
Mood
Type
When to use this quote
- budget planning
- inflation control
- currency management
- financial regulation
Key Concepts
Questions to Reflect On
- What are the benefits of an independent central bank?
- How does this affect national fiscal policy?
Independence may limit democratic oversight.