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Accountability and the ECB

Sibert, Anne (2009) Accountability and the ECB. Other. European Policy Department A: Economic and Scientific Policies, Brussels, Belgium.

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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: 03 Jun 2013 07:12

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