ABSTRACT
‘In many ways, the Bundesbank is in a better position than any other EEC central bank to carry out an effective monetary policy. It has … a large measure of autonomy by statute … a wide range of policy instruments under its control … a fairly well developed money market … and it need worry very little about providing for the public sector …’ (E. Victor Morgan, Richard Harrington and George Zis, Banking Systems and Monetary Policy in the EEC (Financial Times Ltd, 1974), p.44.)
