The independence of the ECB is instrumental in maintaining price stability. Not only must the bank not seek influence, but EU institutions and national governments are bound by the treaties to respect the ECB's independence. To offer some accountability, the ECB is bound to publish reports on its activities and has to address its annual report to the European Parliament, the European Commission, the Council of the European Union and the European Council. The European Parliament also gets to question and then issue its opinion on candidates to the executive board. COUNT 4
QSN1 WHat is the biggest factor in the ECB maintaining price stability? ANS1 independence QSN2 Who gets to interview and question prospective board members? ANS2 The European Parliament QSN3 Why do EU institutions and national governments have to respect the independence of the ECB? ANS3 bound by the treaties QSN4 How is the ECB held accountable for it's actions? ANS4 bound to publish reports on its activities and has to address its annual report to the European Parliament