ECB President Mario draghi said at a press conference following the central bank's board meeting that important changes had taken place in the resumption of negotiations. On November 11, 1997, the bank of England took a big step towards independence, politely revising the "banking law" of 1946 and reading it in the lower house. The bill passed legislation affirming that Gordon Brown, the Treasury secretary, freed government control from the central banking business. This is the hallmark of an institution that has been under the yoke of government for a century and a half. It symbolises how demand for central bank independence becomes conventional wisdom. Ford motor co., in 1915, produced a car that was different from a horse model