摘要：After the dramatic summit intended to rescue the euro area, the Governing Council of the European Central Bank (ECB) announced several measures in order to ensure an “orderly monetary policy transmission mechanism”. On the last days before the ECB changed its course, the impression emerged that the ECB was being driven not only by the markets but also by politics. Many observers argued that, with the bond purchases, national fi scal poli- cies could begin to dominate common monetary policy. The ECB has obviously become less politically independent.
