To day or not to day #61: No interference in banking supervision. The main task of the European Central Bank (ECB) is to ensure price stability, without political interference as agreed in the Maastricht Treaty. Since the banking crisis in 2007, the ECB had to focus on financial stability to prevent banks collapsing. Now the ECB, by getting an additional task by monitoring the European banking system can get more grip on financial stability. Yet the monetary stability in jeopardy. With the banking supervision, political influence from the member states is on the prowl. Banking supervision requires great care.
Source: Het Financieele Dagblad, Saturday 9 February 2013. Essay by Sylvester Eijffinger en Dick van Wensveen