Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-04-16-Speech-2-522-000"
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"en.20130416.50.2-522-000"2
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"Madam President, colleagues, the European Central Bank has proved able and willing to take exceptional measures which go far beyond its remit when the stability and even survival of the financial sector is at risk.
Yet, when asked about the consequences of its actions and the missions for growth and employment, the ECB hides behind its very narrow and increasingly inadequate terms of reference, claiming its mission is to ensure price stability and curb inflation.
Whatever we make of the economic premises of the ECB, it holds dear about inflation. Its blatant disregard for the levels of unemployment and economic performance in the Member States lays its biases bare and shows how badly we need a new approach that promises public policy. At least we should have an ECB that treats public exchequers and taxpayers with a modicum of the generosity shown to the banks.
Mr Draghi, you made your views clear when you declared the death of the European social model. You have thus shown that ECB independence is not a synonym for public neutrality. You come here to defend the strict conditions imposed on the bail-out countries as essential for recovery. When can we expect strict conditions to ensure that the banks pass on the cheap credit you grant them to our SMEs in the real economy?"@en1
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