Sibert, A. (2009) Accountability and the ECB. Other. European Policy Department A: Economic and Scientific Policies, Brussels, Belgium.
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Official URL: http://www.europarl.europa.eu/activities/committee...
Abstract
In a democracy, it is only acceptable to delegate power to an independent institution if that institution has legitimacy. Both formal and substantive accountability can create legitimacy. The ECB’s extraordinary degree of independence precludes it from being substantively accountable; hence, to have legitimacy it must be formally accountable.
| Item Type: | Monograph (Other) |
|---|---|
| Additional Information: | Briefing Paper |
| School or Research Centre: | Birkbeck Schools and Research Centres > School of Business, Economics & Informatics > Economics, Mathematics and Statistics |
| Depositing User: | Administrator |
| Date Deposited: | 01 Oct 2010 12:52 |
| Last Modified: | 17 Apr 2013 12:17 |
| URI: | http://eprints.bbk.ac.uk/id/eprint/1249 |
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