Having clung to the principle of operational independence to avoid answering the most basic questions, you have nonetheless seen fit to encourage speculation about the true nature of the allegations facing Damian.

BBC: In full: Dominic Grieve's letter

In theory Mr Bini Smaghi can stand his ground, appealing to the sacred principle of ECB independence, which should mean that he cannot be ousted from the board on political grounds.

FORBES: European Central Bank Independence: Theory and Reality