Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.
My view was that government officials could not sit on the board of the central bank, and I am very happy that has been upheld.
I believe that being in a position, as a central bank, to influence economic growth does not mean losing independence.
As a former economy minister, I can't not think about economic growth. The central bank should also think about this but through its own instruments.
What's brilliant about the United States system of government is separation of power. Not only the executive, legislative, judicial branches, but also the independence of the military from civilians, an independent media and press, an independent central bank.
It is the ability of governments to acquire money without direct taxation that makes modern warfare possible, and a central bank has become the preferred method of accomplishing that.
There was a real fear that a euro-zone bank might fail, that we'd have a sovereign debt problem in one of the larger European economies. That's dissipated, thanks largely to the action of the European Central Bank.
We made a decision that monetary policy will be made by an independent European Central Bank.
If a debt crisis results from government profligacy and mismanagement, rather than from a market failure, it is true that the central bank should not intervene.