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Monetary policy for sure, in normal times.
The bank sets monetary policy for the 12 euro nations.
It has also announced a new, "prudent" monetary policy for 2011.
Mr. Almunia's previous job was overseeing economic and monetary policy for the Union.
When the ECB was created in 1998 it set monetary policy for 11 prospective euro members.
Trying to implement a common monetary policy for the euro zone was always a tough task.
The right monetary policy for one country might not necessarily be what is good for another.
Friedman understood the power of monetary policy, for both good and ill.
The Bank of Japan ran an excessively accommodative monetary policy for most of the 1980s.
Dombret said politicians had removed themselves from monetary policy for "very good" reasons.
"And the cause of it has been an overexpansive monetary policy for almost 10 years".
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