ECB's Stark on challenges of euro area enlargement

In the speech 'Economic and monetary challenges of euro area enlargement' given on 20 November Jurgen Stark of the ECB said it is crucial that central banks have full independence in the new EU member states, in practice as well as in theory.

"I would like to stress again that the independence of a central bank from political institutions is absolutely crucial. It must not only be safeguarded by legal acts in all its dimensions. It must also be observed in practice," he said.

"Compliance with the

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