Presumably they've checked with the lawyers to make sure that this does not violate the Maastricht Treaty, which forbids governments from using the central bank to finance any of their deficits.

BBC: Why the Bank held off spending

Not only does the Maastricht treaty prohibit it from taking orders from politicians, but members of the executive board are appointed for eight-year, non-renewable terms, insulating them from pressures to please politicians in order to get reappointed.

ECONOMIST: Euro Towers or Fawlty Towers? | The

In France a majority of those who voted for the Maastricht treaty would not do so again.

ECONOMIST: Charlemagne

Also, they need to adhere to the other strictures of the Maastricht treaty and not fall into the temptation of abandoning the Euro.

FORBES: Europe's Solution Isn't More Inflation

Mr Kohl would do well not to overemphasise this when selling the Maastricht deal back home.

ECONOMIST: From the archive

The problem for John Major, Britain's prime minister, was that the main thing he wanted from the Maastricht meeting was that it should not do too much.

ECONOMIST: From the archive

These views do not clash, and so after the summit in the Dutch town of Maastricht on December 9th and 10th, all 12 leaders liked the results.

ECONOMIST: From the archive