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| Definition Of: |
accountability
The legal and political obligation of an independent institution to properly explain and justify its decisions to the citizens and their elected representatives, thereby making it responsible for fulfilling its objectives. The ECB is accountable to the European citizens and, more formally, to the European Parliament.
Copyright © 2006, European Central Bank, Frankfurt am Main, Germany. This information may be obtained free of charge through the ECB's website.
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European Central Bank Dictionary INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 A: Page 1 of 2.
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