ECB Independence at Risk as Eurozone Debt Levels Rise

European Central Bank (ECB) independence is at risk due to rising debt levels in countries like France and Italy, according to Commerzbank's Dr. Marco Wagner.

The ECB has faced pressure from politicians in the past, particularly during the sovereign debt crisis when demands were made for it to take on more debt.

Although there have been few demands on the ECB in recent years, Dr. Wagner warns that high and rising debt-to-GDP ratios could again politicize monetary policy and constrain the bank's actions.

The Central Bank Pressure Index (CBPI), developed by Commerzbank using AI analysis of politicians' statements, shows repeated attempts to influence the ECB.