Disputes Between The Bundesbank and The Government
The statutory independence of the central bank guaranteed by the Bundesbank Act does not ensure that there will be no disputes between the central bank and government.
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“In our governments the real power lies in the majority of the community, and the invasion of private rights is chiefly to be apprehended, not from the acts of government contrary to the sense of the constituents, but from the acts in which government is the mere instrument of the majority.”
—James Madison (1751–1836)