Central Bank Autonomy and Political Decision Process

Since a couple of years central bank independence is a very popular topic in economic literature as well as in the political discussion. There are several reasons for this actual interest:the different proposals concerning the institutional status of the European Central Bank (ECB) as a part of the European Monetary Union (EMU) during the time the Maastricht Treaty was prepared;the critical analysis and the political discussion of the specific regulations of the treaty itself concerning the status of the ECB;the necessity of reforming the banking system and to establish a new central bank law in post-socialist countries in accordance with the transformation of the economic system.