Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-10-27-Speech-3-122"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"1999-10-27"^^xsd:date2
dcterms:Is Part Of	lp_eu:Votes2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.19991027.3.3-122"2
lpv:hasSubsequent	lp_eu:1999-10-27-Speech-3-1232
lpv:speaker	lp:Gary Titley2
lpv:spoken text	"I welcome this first annual report by the Governor of the European Central Bank, Mr Duisenberg. He has earned our praise for the successful establishment of the ECB and the smooth introduction of the euro. To MEPs such as myself, the ECB’s annual and monthly publications have proved to be invaluable and of a consistently high standard. I regret, however, that the ECB does not follow the high standards of transparency and openness set by the Bank of England. The Bank of England was granted operational independence in May 1997 in one of the first acts of the incoming Labour Government. Minutes of meetings of its Monetary Policy Committee, including voting records and reasoning, are now published after about six weeks. This boosts market confidence in its decisions and is a great example of open government. It can surely be no coincidence that, since the Labour Government’s brave decision in May 1997, Britain has enjoyed a previously unknown period of economic stability and been praised by the OECD. It can also be no coincidence that the Labour Government’s decision was criticised at the time by the boom-and-bust Conservatives, who have a record second to none when it comes to economic instability and incompetence. I would like to see the ECB follow a policy of openness and transparency similar to the Bank of England. Such openness should include the publication of minutes of its Governing Council with the reasoning behind decisions taken, particularly over interest rates. It would be perverse for Britain to go from a position of transparency to one of relative secrecy. Therefore, if Britain is ever going to embrace the euro, the ECB must also embrace greater openness."@en1
lpv:spokenAs	substitute; Committee on Development and Cooperation (1999-07-22--2000-02-15)3 substitute; Delegation to the EU-Slovenia Joint Parliamentary Committee (1999-10-08--2002-01-14)3 unknown; Labour Party (1999-07-20--2004-07-19)3 member; Committee on Foreign Affairs, Human Rights, Common Security and Defence Policy (1999-07-21--2002-01-14)3 member; Conference of Delegation Chairs (1999-07-22--2002-01-14)3 chair; Delegation to the EU-Lithuania Joint Parliamentary Committee (1999-07-22--2002-01-14)3 member; PES (1999-07-20--2003-05-20)3
lpv:unclassifiedMetadata	"Titley (PSE ),"1 "in writing."1

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