The Treaty on European Union sets out the detailed legal framework within which the European Central Bank (ECB) will operate. In particular, the Treaty provides that the primary objective of the ECB shall be to maintain price stability. Without prejudice to this objective, the Treaty requires the ECB to support the general economic policies in the Community with a view to contributing to the achievement of the objectives of the Community: briefly, these are to promote sustainable and non-inflationary growth, a high level of employment and social protection, and economic and social cohesion and solidarity among the member states.
The Treaty also provides that when carrying out its tasks, the ECB shall neither seek nor take instructions from Community institutions, from member states' governments or from any other body. The purpose of this provision is to ensure that the ECB is independent in pursuit of its objective of price stability.