The Crisis of Central-Bank Governance (Project-Syndicate)

The European Central Bank may enjoy stronger protection against political pressure than other central banks do, but it also faces unique constraints. The more the ECB is forced to expand its policy remit to meet new economic challenges, the more likely it is to trigger destabilizing political conflicts within the eurozone.

https://www.project-syndicate.org/commentary/crisis-of-central-bank-fed-ecb-governance-by-lucrezia-reichlin-2019-10

Lucrezia Reichlin, a former director of research at the European Central Bank, is Professor of Economics at the London Business School.

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