Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-07-09-Speech-3-035"

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"en.20080709.2.3-035"2
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"Madam President, the Eurogroup formulates economic policy, the European Central Bank formulates monetary policy and we, here in the European Parliament, just do politics, without any other additional definitions, and this obliges us to be accountable for the full range of decisions made in the euro area. As a newcomer to politics, while I fully respect the independence of the Central Bank, I believe I am able to offer some advice. Imported inflation, however, which is our biggest problem, cannot, in my opinion, be fully countered if the only weapon we use is interest rates. We need to take action on the causes of inflation. We need to battle with the oil cartels, we need to battle with the raw material profiteers, we need more food on the market and, if we do not take action on the root of evil, I am afraid that we will continue to have debates similar to this, which have a logic that is understood in Brussels and Strasbourg but lack political justification in the eyes of the public."@en1

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