Local view for "http://purl.org/linkedpolitics/eu/plenary/2017-05-17-Speech-3-365-000"
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"en.20170517.29.3-365-000"2
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"Mr President, the fact that today’s debate on the ECB is happening on the same day that the Governing Council of the ECB is meeting does not say a lot for Parliament’s scheduling ability, especially as I understand the ECB was not even invited to today’s debate.
The role of the ECB within the new post-crisis supervision and architecture is absolutely crucial: crucial to prevent financial shocks in the future; crucial to secure the confidence of citizens. The decisions taken by the ECB, from quantitative easing to the various programmes of support are working. Growth has returned. Three million jobs have been created in the eurozone in the last year. Inflation is slowly moving towards the ECB target of 2%, and despite all of the Armageddon predictions, the euro remains and has not been fragmented.
The crisis came from light touch supervision. We are not going back to that. That is why we need a strong independent ECB, but that independence must also deliver accountability and transparency, and it is at that level that the ECB has much to do. I want the President of the ECB to appear before all parliaments of the 19 Member States of the eurozone; not just the big Member States. President Draghi has appeared before parliaments in France, Spain, Italy and Germany. It is time that engagement took place at all levels across eurozone countries. We cannot have an inside or outside track. All Member States must be treated fairly. Appearing before some parliaments and not others sends out the wrong impression.
The euro is our currency. We must defend it. The ECB is our central bank. It must treat all Member States with respect, and that is where the change needs to happen."@en1
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