This book explores the European Central Bank's (ECB) political role, and the politics of its increased empowerment, in the light of contemporary challenges for both central bank independence and European democratic stability.

Analysing the central bank's transparency, accountability, and democratic legitimacy, the book shows how politics have influenced monetary policy, the ECB's institutional role, and the appointment of top central bankers. As one of the most important institutions of the European Union (EU), the economic empowerment of this very independent and technocratic institution poses unsolved challenges for its accountability and for democratic legitimacy of the EU.

This book will be of key interest to scholars and students of European integration, European economic governance, democracy, political economy, economics, and law.