Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-07-09-Speech-3-021"
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"en.20080709.2.3-021"2
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"Mr President, the annual report of the European Central Bank does not, it appears, speak of a certain tendency that has developed in recent years. Whereas up to now one could speak of the European bank in Frankfurt acting with real independence, in recent times we have seen attempts by the largest European Union countries to put pressure on the ECB and to influence its decisions.
This is a worrying tendency since, in practice, it means that the EU is being divided into countries that are equal and those that are more equal than others. This could lead to double standards. Countries such as France or Germany are given the right to put pressure on the ECB but, when it comes to smaller countries, the principle of the independence of the European Central Bank from the governments of European Union Member States is adhered to very strictly. I speak of this because it is a worrying development.
Finally, one cannot say that Europe has a proper and stable financial system. This is something that is in the process of development. An illustration of this is given by the paradoxical example of London, which is the most important financial centre in the European Union, even though it is the capital of a country outside the euro zone."@en1
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