Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-040-000"

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"Mr President, first of all, let me welcome President Draghi to his first visit to Parliament. I also wish to congratulate the rapporteur, Mr Tremosa, on the excellent job he has done in describing in an outstanding and comprehensible way the price stability in the euro area, as well as all the measures the ECB had to guarantee in 2010. In the future, the ECB will continue to have a special responsibility with regard to EU monetary policy and its coherence, and in applying an appropriate interest rate policy, as it indeed did in 2010. In my opinion, the ECB does need to be capable of intervening in the fight against the debt crisis and must, where appropriate, facilitate liquidity by purchasing government securities that are deemed too risky. It should do so with the aim of allowing the Member States concerned a moment of respite so as to be able to once again introduce investment-friendly, economically invigorating measures. Of course, all this needs to be undertaken under appropriate financial supervision. Similarly, I welcome the idea to look into ways in which the ECB can contribute to the creation of a European Monetary Fund to ensure that there is no need for the IMF to be involved in credit policy, and thereby to reduce Member States’ dependence on international institutions. It is a sound idea and needs to be investigated, and impact assessments need to be prepared as to ways in which a mechanism for the issuance of eurobonds can be created in the future. Furthermore, as a fellow Member has also mentioned, I believe it is very important to ensure appropriate communications in the interest of credibility. I therefore endorse the proposal of the rapporteur that the minutes of meetings of the Governing Council should be made public, and consider it a good idea. To President Draghi, I wish sufficient determination and all the best for his future work."@en1
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